MicroStrategy (NASDAQ:MSTR) issues $700M notes, eyes bitcoin boost

MicroStrategy Incorporated (NASDAQ:MSTR) has announced a strategic financial initiative to raise $700 million through the issuance of convertible senior notes due in 2032.

These notes will bear an interest rate of 2.25% per annum.

The company intends to use the proceeds from this offering to acquire additional bitcoin and for other corporate purposes.

In conjunction with this new issuance, MicroStrategy has issued a redemption notice for its existing 0.750% Convertible Senior Notes due 2025, totalling $650 million.

Holders of these notes have the option to convert them before July 11, 2024.