MicroStrategy plans to privately issue $600 million in convertible senior notes to purchase more Bitcoin

ChainCatcher news, MicroStrategy announced on its official website that, based on market conditions and other factors, MicroStrategy plans to issue a total principal amount of $600 million in convertible senior notes due, which will be privately placed to qualified institutional buyers. MicroStrategy intends to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes.

It is reported that these notes will be unsecured senior debt of MicroStrategy, with interest payable semi-annually starting on September 15, 2024 (on March 15 and September 15 each year). Unless repurchased earlier, these notes will mature on March 15, 2030.