According to Blockworks, MicroStrategy has announced a proposal for a $500 million offering of convertible senior notes due in 2031, with the intention of using the funds to acquire more bitcoin and for general corporate purposes. The company also expects to grant initial purchasers of the notes an option to buy up to an additional $75 million aggregate principal amount of the notes within a 13-day period starting from the date the notes are first issued.
The sale will be offered exclusively to institutional investors. This announcement comes shortly after MicroStrategy proposed an initial offering of $600 million worth of convertible notes, which was later upsized to $700 million. The previous convertible note offering closed on March 8. On Monday, the company announced the closure of an $800 million offering of 0.625% senior convertible notes due in 2030.
Earlier this week, MicroStrategy revealed that it had purchased 12,000 more bitcoin for $821 million between February 26 and March 10. The company currently holds approximately 205,000 bitcoin. MicroStrategy's stock was slightly down in after-hours trading on Wednesday, hovering around $1,735 a share. Over the past year, the stock has increased by 676%, and in the past five days alone, it has soared by 41%.
Anais
