{"id":14325,"date":"2024-06-13T17:21:48","date_gmt":"2024-06-13T14:21:48","guid":{"rendered":"https:\/\/forklog.com\/en\/microstrategy-to-issue-700-million-in-convertible-bonds-for-bitcoin-acquisition\/"},"modified":"2024-06-13T17:21:48","modified_gmt":"2024-06-13T14:21:48","slug":"microstrategy-to-issue-700-million-in-convertible-bonds-for-bitcoin-acquisition","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/microstrategy-to-issue-700-million-in-convertible-bonds-for-bitcoin-acquisition\/","title":{"rendered":"MicroStrategy to Issue $700 Million in Convertible Bonds for Bitcoin Acquisition"},"content":{"rendered":"<p>MicroStrategy <a href=\"https:\/\/www.microstrategy.com\/press\/microstrategy-announces-proposed-private-offering-of-500m-of-convertible-senior-notes_06-13-2024)\">plans to issue<\/a> eight-year convertible senior unsecured notes amounting to $500 million for &#8220;acquiring additional bitcoins and funding general corporate purposes.&#8221;\u00a0<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">June 14, 2024 | 15:22<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>MicroStrategy has raised the target threshold for the bond issuance to $700 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">MicroStrategy Announces Pricing of Offering of Convertible Senior Notes <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a> <a href=\"https:\/\/t.co\/ejEbX1a7P9\">https:\/\/t.co\/ejEbX1a7P9<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1801586068006851029?ref_src=twsrc%5Etfw\">June 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<p>The issuance includes an option to place an additional $75 million.<\/p>\n<p>The coupon period is 182 days.<\/p>\n<p>Upon maturity, bondholders may convert them into cash, MicroStrategy class A common shares, or a combination of both.<\/p>\n<p>On June 13, the company also <a href=\"https:\/\/www.microstrategy.com\/press\/microstrategy-to-redeem-650m-of-2025-convertible-notes-and-settle-all-conversion-requests-in-shares_06-13-2024\">announced<\/a> the redemption of $650 million in securities maturing in 2025 at 100% of the principal amount plus accrued coupon income. The payment will occur on July 15.<\/p>\n<p>Holders of these bonds can exchange them for MicroStrategy class A shares at a rate of $397.99 per security.<\/p>\n<p>The current issuance will be placed as a private offering for qualified institutional investors, subject to market conditions and other factors.<\/p>\n<p>Previously, MicroStrategy utilized a similar instrument in March 2024, when the company issued two convertible bond offerings <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-to-issue-600-million-in-bonds-for-bitcoin-acquisition\">of $600 million<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-to-issue-500-million-in-bonds-for-bitcoin-acquisition\">$500 million<\/a>.<\/p>\n<p>The firm holds 214,400 BTC on its balance sheet, valued at approximately $14.56 billion at the current rate. Most recently, MicroStrategy <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-acquires-additional-122-btc\">acquired 122 BTC<\/a> in April 2024.<\/p>\n<p>On March 26, the company&#8217;s market capitalization reached a new high since 2000 <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-shares-reach-24-year-high\">at $31.85 billion<\/a>.\u00a0<\/p>\n<p>On June 7, the value of open short positions on MicroStrategy shares rose to $6.9 billion, tripling over the past six months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy plans to issue eight-year convertible senior unsecured notes amounting to $500 million for &#8220;acquiring additional bitcoins and funding general corporate purposes.&#8221;\u00a0 June 14, 2024 | 15:22Update: MicroStrategy has raised the target threshold for the bond issuance to $700 million. MicroStrategy Announces Pricing of Offering of Convertible Senior Notes $MSTR https:\/\/t.co\/ejEbX1a7P9 \u2014 Michael Saylor\u26a1\ufe0f (@saylor) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1538,1207,1211],"class_list":["post-14325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-purchase","tag-microstrategy","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/14325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=14325"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/14325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/14324"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=14325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=14325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=14325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}