MicroStrategy is gearing up for a $500 million stock sale to fund additional Bitcoin purchases, further solidifying its commitment to Bitcoin as a key asset in its treasury reserves.
The company has announced its plan to offer $500 million in convertible senior notes, which are due in 2032.
This private offering will be available to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and is contingent on market conditions and other factors.
According to MicroStrategy, “The notes will be unsecured, senior obligations of the company, bearing interest payable semi-annually in arrears on June 15 and December 15 each year, starting from December 15, 2024. These notes will mature on June 15, 2032, unless repurchased, redeemed, or converted earlier in accordance with their terms.”
Summary Review: MicroStrategy’s planned stock sale is another strategic move to bolster its Bitcoin holdings, demonstrating the company’s unwavering belief in the cryptocurrency as a valuable reserve asset.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
