Microstrategy Proposes $500M Convertible Senior Notes Offering to Acquire Additional Bitcoin

Microstrategy has announced its intention to offer $500 million of convertible senior notes due 2032 in a private offering, subject to market conditions. The company also expects to grant the initial purchasers an option to purchase up to an additional $75 million of the notes within a 13-day period from the issue date. The notes will be unsecured, senior obligations of Microstrategy, bearing semi-annual interest, and maturing on June 15, 2032. The proceeds from the sale of the notes will be used to acquire additional bitcoin and for general corporate purposes.