MicroStrategy, one of the largest public shareholders of Bitcoin (BTC), has finalized…
MicroStrategy, one of the largest public shareholders of Bitcoin (BTC), has completed another convertible note offering to acquire more BTC.
On June 20, MicroStrategy officially announced that the company had completed its previously announced offering of 2.25% convertible senior notes due 2032.
The aggregate principal amount of securities sold in the offering was $800 million, including $100 million of securities issued pursuant to the call option. The announcement indicates that the first buyers exercised their purchase contract in full on June 17, and that another additional purchase will take place on June 18.
Net proceeds from the sale of the Notes were approximately $786.0 million, after deducting initial purchaser discounts and commissions and estimated offering expenses payable by MicroStrategy.
MicroStrategy intends to use the net proceeds from the sale of the Notes to acquire additional Bitcoin and for general corporate purposes.
In a separate announcement, MicroStrategy said it acquired an additional 11,931 bitcoins for $786 million using proceeds from convertible bonds and excess cash at a price of $65,883 per bitcoin. As of June 20, MicroStrategy had acquired a total of 226,331 bitcoins for approximately $8.33 billion, at an average price of $36,798 per bitcoin.
This is a developing story, and more information will be added as it becomes available.
