MicroStrategy Announces $875 Million Convertible Senior Notes Offering Due 2028

According to Foresight News, MicroStrategy has announced the issuance of $875 million in principal amount of convertible senior notes due 2028, with an interest rate of 0.625%. The offering is expected to close on September 19, 2024. MicroStrategy plans to use the net proceeds from this issuance to redeem the entire $500 million outstanding principal amount of its 6.125% senior secured notes due 2028. Additionally, the remaining net proceeds will be used to purchase more Bitcoin and for general corporate purposes.