MicroStrategy Completes $3 Billion Offering of Senior Notes to Buy BTC

MicroStrategy has successfully completed a $3 billion offering of 0% convertible senior notes due in December 2029, with plans to use some or all of the proceeds to purchase more Bitcoin. The company announced this milestone as its shares experienced a 25% retracement on Nov. 21, according to Google Finance data. The convertible senior notes carry a 55% premium with an implied strike price of around $672, which is the predetermined price at which holders can buy or sell MicroStrategy’s Class A common stock. These notes, sold at a discount, will mature to their face value if not converted before

Source: CryptoIntelligence