MicroStrategy Incorporated, a publicly-traded company known for its Bitcoin development and enterprise analytics software, has announced a private offering of convertible senior notes due 2031, initially amounting to $500 million with an option for initial purchasers to buy an additional $75 million. The offering, which targets qualified institutional buyers under Rule 144A, was first reported on March 13, 2024, and subsequently, the company priced the offering at $525 million on March 15, 2024, with the possibility of an increase to $78.75 million if the additional notes are purchased. The closing of the offering is expected on March 18, 2024, subject to customary conditions. MicroStrategy estimates net proceeds of approximately $515 million, or $592.3 million if the additional notes are fully purchased, after deductions. The company plans to use the proceeds to acquire more...Show More

MicroStrategy Incorporated, a publicly-traded company known for its Bitcoin development and enterprise analytics software, has announced a private offering of convertible senior notes due 2031, initially amounting to $500 million with an option for initial purchasers to buy an additional $75 million. The offering, which targets qualified institutional buyers under Rule 144A, was first reported on March 13, 2024, and subsequently, the company priced the offering at $525 million on March 15, 2024, with the possibility of an increase to $78.75 million if the additional notes are purchased. The closing of the offering is expected on March 18, 2024, subject to customary conditions. MicroStrategy estimates net proceeds of approximately $515 million, or $592.3 million if the additional notes are fully purchased, after deductions. The company plans to use the proceeds to acquire more Bitcoin and for general corporate purposes. The notes will be senior unsecured obligations, bearing semi-annual interest, and will be convertible into cash, shares of MicroStrategy's class A common stock, or a combination thereof, at the company's discretion. The conversion is subject to certain conditions and will be available at specified times until maturity on March 15, 2031. The press releases related to the offering and pricing are filed with the SEC and incorporated by reference into the Current Report on Form 8-K.