Michael Saylor, executive chairman of MicroStrategy, on Wednesday said the company has upsized convertible senior notes offering from $700 million to $875 million. This will help the company to buy even more Bitcoin. Meanwhile, MSTR stock price fell over 1% in response today.
Michael Saylor Upsizes MicroStrategy Debt Offering to $875 Million
Virginia-based business intelligence firm MicroStrategy is now looking to raise $875 million through the sale of convertible senior notes at an interest rate of 0.625% per annum, MicroStrategy announced on September 18.
Michael Saylor took to X to reach out to the wider crypto community about upsizing the notes offering to buy even more Bitcoin. On Monday, the company announced plans to offer a private offering of $700 million in convertible senior notes.
MicroStrategy Announces Pricing of Offering of Convertible Senior Notes $MSTR https://t.co/xIsCTvCBgH
— Michael Saylor (@saylor) September 18, 2024
The company estimates that the net proceeds f
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