MicroStrategy has completed a $3 billion offering of 0% convertible senior notes, increasing the amount from an initial $2.6 billion due to high demand. After deductions, the company raised $2.97 billion, which will fund Bitcoin acquisitions and corporate needs.
The notes, maturing in December 2029, were sold privately to institutional buyers under Rule 144A. Investors can convert the notes into cash, shares, or both, with an initial conversion rate of $672.40 per share, reflecting a 55% premium. Conversion is restricted until June 2029 unless specific conditions are met.
MicroStrategy remains the largest corporate Bitcoin holder, now owning 331,200 BTC worth over $32.6 billion after Bitcoin’s recent rise past $99,000. The company’s stock has surged over 620% this year, making it one of the most traded in the U.S.
Bitcoin briefly surpassed the $99,000 mark for the first time on Thursday, following four consecutive days of gains. According to CoinMarketCap, Bitcoin was last trading at $97,569, up 0.3%, after reaching an intraday high of $99,500.
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