https://www.businesswire.com/news/home/20201207005918/en/
TYSONS CORNER, Va.--(BUSINESS WIRE)--MicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy”) today announced that it intends to offer, subject to market conditions and other factors, $400 million aggregate principal amount of convertible senior notes due 2025 (the “notes”) in a private offering to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $60 million aggregate principal amount of the notes. The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.
MicroStrategy intends to invest the net proceeds from the sale of the notes in bitcoin in accordance with its Treasury Reserve Policy pending the identification of working capital needs and other general corporate purposes.
=> This is after Michael Saylor the CEO of the company announced on Friday having purchased another 2,574 bitcoins for $50.0 million in cash, bringing their total balance to 40,824 bitcoins. So far their $475M total Bitcoin purchase is worth ~$780M.
Submitted December 07, 2020 at 05:32PM by toSaturnAndBeyond https://ift.tt/37NgJzq
