TechFlow news — MicroStrategy announced the pricing of $525 million in 0.875% convertible senior notes due 2031.
The notes will be offered in a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933. In addition, MicroStrategy has granted the initial purchasers an option to purchase up to an additional $78.75 million in notes within 13 days. The offering amount has been increased from the previously announced $500 million. The offering is expected to close on March 18, 2024, subject to customary closing conditions.
MicroStrategy intends to use the net proceeds from the sale of the notes to purchase additional bitcoin and for general corporate purposes.
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