MicroStrategy plans to privately place $700 million in convertible senior notes MSTR

According to ChainCatcher news, MicroStrategy Incorporated announced that, based on market conditions and other factors, the company plans to privately issue $700 million in total principal amount of convertible senior notes (the "Notes") due in 2028 to qualified institutional buyers in accordance with Rule 144A of the Securities Act of 1933 (as amended) (the "Securities Act"). MicroStrategy also expects to grant the initial purchasers of the Notes an option to purchase up to $105 million in total principal amount of the Notes within 13 days from the date of the initial issuance of the Notes. This offering is subject to market and other conditions, and there can be no assurance as to whether, when, or on what terms the offering will be completed.

The Notes will be unsecured senior debt of MicroStrategy and will bear interest, payable semi-annually on March 15 and September 15 of each year, starting from March 15, 2025. Unless repurchased, redeemed, or converted prior to maturity in accordance with their terms, the Notes will mature on September 15, 2028. Under certain conditions, MicroStrategy may redeem all or a portion of the Notes for cash on or after December 20, 2027.