MicroStrategy plans to increase convertible senior notes issuance size to US$700 million

According to official news, MicroStrategy announced its intention to issue convertible senior notes with an aggregate principal amount of US$700 million due in 2030 and an interest rate of 0.625%. The Notes will be sold in a private placement to institutional buyers reasonably believed to be qualified under Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). It is reported that the offering is expected to close on March 8, 2024, subject to the satisfaction of customary closing conditions. In addition, MicroStrategy has granted the initial purchasers of the Notes an option to purchase up to an additional $100 million in aggregate principal amount of the Notes within 13 days from (and including) the date of the initial issuance of the Notes, which is expected to be held on March 8, 2024. Ends on the day, subject to meeting customary closing conditions.