Summary
MicroStrategy is offering $500 million in convertible senior notes to buy more bitcoin. They previously closed an $800 million offering and bought 12,000 more bitcoin. The company’s stock is up significantly in the past year. The offering will only be available to institutional investors.
Key Points
1. MicroStrategy is proposing another offering of $500 million in convertible senior notes to purchase more bitcoin.
2. The company expects to grant initial purchasers of the notes an option to purchase an additional $75 million in notes.
3. The funds from the sale will be used to acquire additional bitcoin and for general corporate purposes.