MicroStrategy Announces Pricing for Offering of Convertible Senior Notes
MicroStrategy announced the pricing of its convertible senior notes ("notes") with a total principal amount of $525 million and an interest rate of 0.875%, due in 2031. These notes will be sold privately to persons who are reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933 and its amendments ("Securities Act"). MicroStrategy has also granted the initial purchasers of the notes an option to purchase up to an additional $78.75 million aggregate principal amount of the notes within 13 days from the date of initial issuance of the notes (including such date). The offering size of this issuance has been increased from the previously announced total principal amount of $500 million. The offering is expected to close on March 18, 2024, subject to customary closing conditions.
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