The Details: MicroStrategy announced it intends to offer $700 million aggregate principal amount of convertible senior notes due 2028 and also expects to grant to the initial purchasers of the notes an option to purchase up to an additional $105 million aggregate principal amount of the notes.
The company said it will use the proceeds from the offering to fund the conditional full redemption of $500 million of MicroStrategy’s outstanding 6.125% senior secured notes due 2028.
MicroStrategy said it will use the balance of the proceeds from the offering to purchase additional Bitcoin BTC/USD and for general corporate purposes.
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