MicroStrategy is set to offer $500 million in convertible senior notes due in 2032 to finance more Bitcoin acquisitions.
This private offering targets qualified institutional buyers and seeks to bolster the company’s resources amid volatile market environments.
As of June 13, MicroStrategy holds more than 1% of BTC’s circulating supply, equivalent to 214,400 BTC, valued at approximately $15 billion.
Offering details
MicroStrategy said it will offer initial purchasers an option to acquire an additional $75 million in notes within 13 days of issuance. The convertible senior notes will be unsecured and mature by June 15, 2032. Interest will be payable semi-annually, with the first payment due on December 15, 2024.
The firm said it retains the right to redeem the notes for cash, either in full or in part, after June 29, 2029, under specific conditions that provide flexibility in financial management.
Investors can convert the notes into cash, MicroStrategy’s class A common stock, or
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