TechFlow news, according to CoinDesk, MicroStrategy (MSTR) filed on Wednesday afternoon to issue $500 million in convertible notes, planning to use the proceeds to purchase additional bitcoin.
Assuming the bitcoin price remains around its current level of approximately $73,000, the company would be able to acquire an additional 6,800 bitcoins through this latest fundraising.
Previous report, MicroStrategy founder Michael Saylor stated that MicroStrategy completed an $800 million offering of convertible notes with a coupon rate of 0.625% and a conversion premium of 42.5%. The company used the net proceeds from the note sales to purchase additional bitcoin.
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