Business intelligence firm MicroStrategy is set to raise significant capital through a new debt offering. The company announced on Friday that its sale of senior convertible notes could bring in between $515 million and $592.3 million.
Details of the Debt Offering
- Total Offering Size: Up to $600 million
- Expected Proceeds: $515 million to $592.3 million
- Note Type: Senior convertible notes
- Interest Rate: 0.875% per annum, payable twice a year
- Maturity Date: 2030
This debt sale follows a similar private placement offering launched by MicroStrategy earlier this week.
Market Conditions at the Time of Announcement
- Bitcoin Price: $67,900 (down 3.72% in the past 24 hours according to The Block)
- MicroStrategy Stock Price: $1,623 (down 3.15% from Thursday’s close)
- MicroStrategy’s Bitcoin Holdings: 205,000 BTC (worth nearly $14 billion)
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