MicroStrategy will issue $700 million in convertible senior notes

ChainCatcher news, according to official sources, MicroStrategy announced the issuance of convertible senior notes with a total principal amount of $700 million, maturing in 2030, with an interest rate of 0.625%.

It is reported that the notes will be sold to qualified institutional buyers in a private placement under Rule 144A of the Securities Act of 1933 (as amended).

In addition, MicroStrategy has granted the initial purchasers of the notes an option to purchase additional notes with a total principal amount of up to $100 million within 13 days from the date of the initial issuance of the notes (including that date).

This issuance is larger than the previously announced principal amount of $600 million for the notes. The issuance is expected to close on March 8, 2024, subject to customary closing conditions.