MicroStrategy raising $700 million through debt offering to buy Bitcoin, reflecting strong demand.

From Investing.com: 2024-06-14 15:30:36

MicroStrategy, led by Michael Saylor, is raising $700 million through a debt offering for purchasing additional Bitcoin and covering corporate expenses. Investors can convert notes into cash or stock at an interest rate of 2.25% per annum until maturity in 2032. The offering reflects strong demand, with an initial conversion price of $2,043.32 per share. Proceeds could reach $786 million if options are exercised, available only to institutional investors.

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