PANews reported on November 22 that MicroStrategy has completed the issuance of $3 billion in zero-interest convertible senior bonds, which will mature in 2029 and have a conversion price of 55% higher than the market price, at about $672 per share. The net proceeds from this issuance are approximately $2.97 billion, and MicroStrategy plans to use most of the funds to purchase more Bitcoin and for other company operations.
The bond issuance is only for qualified institutional investors and is not registered with the U.S. Securities and Exchange Commission. After conversion, it can be converted into cash, stock, or a combination of the two. MicroStrategy continues to consolidate its position as the "world's largest Bitcoin treasury company."
