MicroStrategy announces another senior notes offering to buy more bitcoin
MicroStrategy announced a senior notes offering last week, raising $800 million
MicroStrategy’s not done buying up bitcoin — or, rather, offering convertible senior notes to do so.
The company, on Wednesday, announced that it was proposing another offering — this time for $500 million — of convertible senior notes due in 2031. The company added that it could raise an additional $75 million from the offer.
“ MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $75 million aggregate principal amount of the notes,” a press release said .
The company said the funds from the sale will be used to “acquire additional bitcoin and for general corporate purposes.”
Read more: MicroStrategy once again holds more bitcoin than BlackRock’s IBIT — for now
The sale will only be offered to institutional investors.
The offering comes just after it proposed an initial offering of $600 million worth of convertible notes, which it later upsized to $700 million.
The previous convertible note offering closed on March 8.
The company announced on Monday that it had closed the $800 million offering of 0.625% senior convertible notes due in 2030.
‘The aggregate principal amount of the notes sold in the offering was $800 million,” the company said .
Earlier this week, the company announced that it bought 12,000 more bitcoin for $821 million. The purchases were made from Feb. 26 through March 10, a filing showed. MicroStrategy holds roughly 205,000 bitcoin.
Read more: MicroStrategy will use proceeds from convertible note sale to add to bitcoin stash
The company’s stock was slightly down in after-hours trading Wednesday, hovering around $1,735 a share. It closed the market day up roughly, continuing an upward trend.
Over the past year, it’s up 676%. In the past five days alone, the stock has soared 41%.
MicroStrategy’s most recent proposed note offering follows on the coattails of Coinbase, which announced a proposed offering of $1 billion in senior convertible notes Tuesday evening.
The company said that it would be using the proceeds for general corporate purposes, according to a press release.
Don’t miss the next big story – join our free daily newsletter .
- BTC
- investors
- Michael Saylor
- MicroStrategy
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Economic Truth: AI Drives Growth Alone, Cryptocurrency Becomes a Political Asset
The article analyzes the current economic situation, pointing out that AI is the main driver of GDP growth, while other sectors such as the labor market and household finances are in decline. Market dynamics have become detached from fundamentals, with AI capital expenditure being key to avoiding a recession. The widening wealth gap and energy supply are becoming bottlenecks for AI development. In the future, AI and cryptocurrencies may become the focus of policy adjustments. Summary generated by Mars AI This summary was generated by the Mars AI model, and its accuracy and completeness are still in the process of iterative improvement.
AI unicorn Anthropic accelerates IPO push, taking on OpenAI head-to-head?
Anthropic is accelerating its expansion into the capital markets, initiating collaboration with top law firms, which is seen as an important signal toward going public. The company's valuation is approaching 300 billions USD, and investors are betting it could go public before OpenAI.
Did top universities also get burned? Harvard invested $500 million heavily in bitcoin right before the major plunge
Harvard University's endowment fund significantly increased its holdings in bitcoin ETFs to nearly 500 million USD in the previous quarter. However, in the current quarter, the price of bitcoin subsequently dropped by more than 20%, exposing the fund to significant timing risk.
The Structural Impact of the Next Federal Reserve Chair on the Cryptocurrency Industry: Policy Shifts and Regulatory Reshaping
The change of the next Federal Reserve Chair is a decisive factor in reshaping the future macro environment of the cryptocurrency industry.
Trending news
MoreCrypto prices
More
