Strategy Plans $1.5 Billion Convertible Note Buyback

Strategy has announced a plan to repurchase $1.5 billion in principal of its zero-coupon convertible senior notes due in 2029. According to Foresight News, Michael Saylor tweeted about the buyback, which involves a private agreement with some noteholders. The company will use approximately $1.38 billion in cash for the repurchase, with the final price adjusted based on the volume-weighted average price of MSTR Class A common stock. The settlement is expected to be completed by May 19. Funding sources include existing cash reserves, proceeds from an ATM issuance program, and Bitcoin sales. Upon completion, Strategy will cancel the repurchased notes, leaving approximately $1.5 billion in outstanding principal for the 2029 notes.