MicroStrategy will redeem $1.05 billion of its 2027 convertible notes and settle all conversion requests in stock

According to ChainCatcher news and the official announcement, MicroStrategy will redeem $1.05 billion of its 2027 convertible bonds and settle all conversion requests in stock.

It has issued a full redemption notice to the trustee of the outstanding 0.0% convertible senior notes due in 2027. The total principal amount of the redeemed notes is approximately $1.05 billion, equivalent to the total principal amount of the outstanding notes held by investors. The notice requires the redemption of all outstanding notes on February 24, 2025, at a redemption price equal to 100% of the principal of the notes to be redeemed, plus any accrued and unpaid special interest (if any) up to but excluding the redemption date, unless the bonds are converted prior to that date.