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MicroStrategy announced that it is increasing its convertible debt offering from $600 million to $700 million.
With this move, the company can purchase more Bitcoin than it previously announced.
In addition to the initial offering, MicroStrategy granted the initial purchasers of the notes an option to purchase up to an additional $100 million in aggregate principal amount of the notes within a 13-day period from the date of issuance. This increased offering represents an increase from the previously announced $600 million offering.
The closing of the offering, which is expected to occur on March 8, 2024, is subject to the satisfaction of customary closing conditions. The net proceeds from the sale of the bonds will be used by MicroStrategy to purchase additional Bitcoin and for general corporate purposes.
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Alongside the increased offering, the firm also announced the pricing of its convertible debt. The conversion rate for the notes will initially be equivalent to $1,497.68 per share, representing a 42.5% premium over Tuesday's closing price of $1,051.01.
MicroStrategy's current BTC holdings are around 193,000 BTC, worth about $13 billion at current prices.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/microstrategy-after-announcing-that-it-will-sell-600-million-bonds-to-buy-bitcoin-changed-its-plan-upwards/" rel="noopener noreferrer nofollow">MicroStrategy, After Announcing That It Will Sell $ 600 Million Bonds To Buy Bitcoin, Changed Its Plan Upwards</a>

MicroStrategy, After Announcing That It Will Sell $ 600 Million Bonds To Buy Bitcoin, Changed Its Plan Upwards

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