Michael Saylor's MicroStrategy Plans Another $700M Convertible Note Issuance

Nasdaq-listed bitcoin development firm MicroStrategy (MSTR) announced Monday that it intends to offer a $700 million aggregate principal amount of convertible senior notes due 2028. The company plans to use the proceeds of the offering to redeem $500 million worth of senior secured notes with 6.125% annual yield maturing in 2028, the press release said. The firm also plans to grant to the initial purchasers of the notes an option to buy up to an additional $105 million aggregate principal amount of notes within a 13-day period starting on the issuance date of the first notes.

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