MicroStrategy has revealed plans to offer $600 million in aggregate principal convertible senior notes due 2030 in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933, subject to market conditions and other factors.
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The company intends to utilise the net proceeds from this note sale to acquire additional Bitcoin and for general corporate purposes. Additionally, MicroStrategy reserves the right, under certain conditions, to repurchase all or a portion of the notes for cash starting from March 22, 2027.
Bondholders will also possess the option to demand MicroStrategy to repurchase all or a part of their bonds for cash on September 15, 2028. These notes will be convertible into cash, shares of MicroStrategy’s class A common stock, or a combination of both at the discretion of MicroStrategy.