MicroStrategy to rake in up to $592 million from selling debt
Quick Take
- Microstrategy expects to take in more than half a billion dollars in proceeds from its debt sale, its second such sale in March.
MicroStrategy is poised to bring in as much as $592 million from its latest debt sale.
The company said Friday its sale of up to $600 million worth of senior convertible notes could bring in between $515 to $592.3 million. The sale, announced earlier this week, comes on the heels of a similar private debt offering launched a few days before.
MicroStrategy's latest stack of convertible senior notes offers an interest rate of 0.875% per annum, payable twice per year in arrears. The notes will mature in 2030.
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was trading at roughly $67,900 on Friday, down 3.72% in the past 24 hours, The Block's price data shows. Likewise, MicroStrategy's stock was down 3.15% to $1,623 midday Friday from Thursday's close. The company holds 205,000 bitcoin, worth nearly $14 billion as of this writing.
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