From Nasdaq

September 18, 2024 08:45 AM:

MicroStrategy Inc. priced its offering of $875 million in 0.625% convertible senior notes due in 2028, up from the initial $700 million planned. The notes will be sold to qualified institutional buyers, with an additional $135 million option for initial purchasers. The conversion rate is set at 5.4589 MicroStrategy Class A common stock shares for every $1,000 principal amount, resulting in a conversion price of $183.19 per share. The company aims to utilize the net proceeds of $864.1 million to redeem $500 million of its 6.125% Senior Secured Notes due 2028, purchase more bitcoin, and for general corporate purposes. The closing of the offering is expected on September 19, 2024.

Read more at Nasdaq: MicroStrategy Announces Pricing Of Offering Of Convertible Senior Notes Due 2028