Summary by Moomoo AI
MicroStrategy Incorporated, a publicly-traded company known for its Bitcoin development and enterprise analytics software, has announced a private offering of $700 million in convertible senior notes due 2028, with an option for initial purchasers to buy an additional $105 million. The offering, aimed at qualified institutional buyers under Rule 144A, is expected to close on September 19, 2024, subject to customary closing conditions. The company has also priced the offering at $875 million with the option to purchase up to an additional $135 million. Net proceeds are estimated at approximately $864.1 million, or $997.4 million if the additional notes are purchased. These funds will be used to redeem all $500 million of MicroStrategy's 6.125% Senior Secured Notes due 2028 and to acquire more Bitcoin for their treasury reserve asset, with the...Show More