Share this article
BTC
$84,554.30
+
0.17%ETH
$1,578.83
-
1.30%USDT
$0.9996
-
0.04%XRP
$2.0647
-
1.81%BNB
$588.33
+
0.98%SOL
$134.04
+
0.57%USDC
$0.9996
-
0.03%TRX
$0.2454
+
0.16%DOGE
$0.1547
-
1.53%ADA
$0.6130
-
1.06%LEO
$9.1870
-
2.74%LINK
$12.62
+
0.19%AVAX
$19.02
-
1.40%TON
$2.9800
+
0.47%XLM
$0.2416
+
1.06%SHIB
$0.0₄1182
-
1.61%HBAR
$0.1638
+
2.69%SUI
$2.1080
+
0.37%BCH
$328.81
-
2.10%LTC
$75.09
-
0.11%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
MicroStrategy Upsizes Convertible Debt Offering to $700M to Buy Even More Bitcoin
The company's convertible debt offering will have a conversion price at 42.5% premium to last close.
- MicroStrategy upsized its convertible debt offering to $700 million from $600 million to buy bitcoin.
- The conversion price of the notes represents 42.5% premium to March 5 close.
MicroStrategy (MSTR) has upsized its convertible debt offering to $700 million from $600 million to buy more bitcoin BTC$84,658.
The Tysons Corner, Virginia-based firm, founded by staunch bitcoin advocate Michael Saylor, is now looking to raise $700 million through the sale of convertible seniors notes at an interest rate of 0.625% per annum, MicroStrategy said in a statement on Wednesday.
STORY CONTINUES BELOW
The firm also announced the pricing of its convertible debt. The conversion rate for the notes will initially be equivalent to $1,497.68 per share, representing a 42.5% premium compared to Tuesday's closing price of $1,051.01.
MicroStrategy's stockpile of around 193,000 BTC - worth around $13 billion at the current price - is the largest of any publicly traded companies, having been a relentless bitcoin accumulator for several years.
The shares of MicroStrategy were trading around $1,227.02 at the time of writing, up nearly 17% on the day. The stock fell a similar amount on Tuesday as bitcoin price dipped below $64,000 after attaining a new all-time high above $69,000.
Read More: MicroStrategy’s X Account Hacked, Leads to $440K Crypto Being Stolen: Blockchain Sleuth ZachXBT
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
