TechFlow news, according to an official announcement, Strategy (Nasdaq: MSTR) announced on February 20 the pricing of $2 billion in zero-coupon senior convertible notes due 2030. The initial conversion price for the convertible notes is set at $433.43 per share, representing a 35% premium over the weighted average price of $321.0514 on February 19.
The company expects to raise approximately $1.99 billion in net proceeds, which could increase to about $2.28 billion if the initial purchasers fully exercise their option to purchase additional notes. Strategy stated that the proceeds will be used for general corporate purposes, including the purchase of bitcoin. The issuance and settlement of the convertible notes are expected to be completed on February 21.
