MicroStrategy Prices $2 Bln Private Offering Of Convertible Senior Notes Due 2030
(RTTNews) - MicroStrategy Inc. (MSTR), Thursday announced the pricing of a $2 billion private offering of convertible senior notes due 2030, with an option to purchase upto an additional $300 million aggregate principal amount of notes.
The initial conversion rate is 2.3072 shares of class A common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $433.43 per share of class A common stock, the company stated.
The proceeds will be utilized for general corporate purposes, including the acquisition of bitcoin and for working capital.
The offering is expected to close on February 21, 2025.
Currently, MicroStrategy's stock is trading at $319.30, up 0.20 percent on the Nasdaq.
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