MicroStrategy Plans to raise $600 million to buy Bitcoins
MicroStrategy has announced a $600 million bond issue maturing in 2030. The company will use the funds received to purchase bitcoins and "general corporate purposes".
MicroStrategy has announced the issuance of senior convertible bonds in the amount of $600 million. According to the press release, the firm plans to spend these funds to increase its bitcoin portfolio.
It should be noted that senior preferred bonds are debt securities, the holders of which have some advantage in the liquidation of the company.
According to the release, the company plans to offer them to "qualified institutional clients." The maturity date of the bonds is March 2030.
Initial buyers will have the opportunity to purchase securities worth up to $90 million within 13 days of their issuance, the company added. Interest on the securities will be paid semi-annually starting from September 15, 2024.
The bond conversion deadline is September 15, 2028. Until then, the securities are subject to redemption in "exceptional cases".
Source: https://incrypted.com/microstrategy-planyruet-pryvlech-600-mln-dlja-pokupky-bytkoynov/
