FX.co ★ MicroStrategy Prices 0% Convertible Senior Notes Due 2029, Stock Up In Pre-Market

MicroStrategy Inc. (MSTR) announced on Wednesday the pricing details for its issuance of $2.6 billion in zero percent convertible senior notes, maturing in 2029. The initial conversion price for these notes is determined at $672.40 per share. This offering marks an increase from the initially planned $1.75 billion aggregate principal amount. The company, known for its substantial Bitcoin holdings, expects to generate approximately $2.58 billion from this issuance. The proceeds are intended for the acquisition of additional Bitcoin and other general corporate purposes. The transaction is scheduled to conclude on November 21. In pre-market trading, MicroStrategy's shares have risen by 7.68 percent, reaching $463.60 on the Nasdaq.