MicroStrategy Inc. has completed its offering of $1.05 billion in convertible senior notes, a raise that would allow the business intelligence software company to purchase another $1 billion in Bitcoins. This week, the firm announced the debt sell-off of $600 million worth of convertible senior notes to qualified institutional buyers.
On Friday, February 19, MicroStrategy revealed that the publicly traded company has sold the convertible senior notes worth $1.05 billion in a private offering to qualified institutional buyers on “Rule 144A under the Securities Act.”
The firm said: “MicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $1.03 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by MicroStrategy.” The company further mentioned:
“MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin.”
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