Key Takeaways:
- MicroStrategy plans a $500 million stock sale to buy more Bitcoin.
- The company will offer $500 million in convertible senior notes, due in 2032, with semi-annual interest.
- This move aligns with MicroStrategy’s strategy of using Bitcoin as a primary treasury reserve asset.
MicroStrategy has announced plans to conduct a $500 million stock sale to purchase more Bitcoin.
This move reinforces its strategy of using Bitcoin as a primary treasury reserve asset.
BREAKING: 🇺🇸 MICROSTRATEGY TO RAISE $500 MILLION IN STOCK SALE TO BUY MORE #BITCOIN pic.twitter.com/ALsb7znGEZ
— Bitcoin Magazine (@BitcoinMagazine) June 13, 2024
The company will offer $500 million in convertible senior notes, which are due in 2032.
These notes will be unsecured and bear interest payable semi-annually, with the first payment due on December 15, 2024.
JUST IN: @MicroStrategy to raise $500 million in stock sale to buy more #Bitcoin.
— CoinGecko (@coingecko) June 13, 2024
đź“° https://t.co/iJVTndtwvR pic.twitter.com/jNbAmkChnA
The proceeds from this sale will primarily be used to acquire additional Bitcoin.
MicroStrategy will also provide initial purchasers the option to buy an additional $75 million in notes.
MicroStrategy Announces Proposed Private Offering of $500 Million of Convertible Senior Notes $MSTR https://t.co/5K8TqAi1D7
— Michael Saylor⚡️ (@saylor) June 13, 2024
This announcement aligns with the company’s long-term commitment to Bitcoin as a key asset in its treasury.