PANews reported on November 19 that MicroStrategy announced that it plans to issue $1.75 billion of zero-interest convertible senior notes, which are expected to mature in 2029. The private placement will be open to qualified institutional investors and some non-US investors, and the size of the offering may increase to $2 billion if market conditions permit. The notes can be converted into cash, MicroStrategy Class A common stock, or a combination of the two, and the final terms of the offering will be determined at pricing.
MicroStrategy plans to use the proceeds to purchase more Bitcoin and for other corporate purposes. The company continues to focus on Bitcoin as its core strategy and is currently the world's largest Bitcoin reserve company.
