MicroStrategy Completes $800 Million Convertible Note Issue

According to Odaily, MicroStrategy has successfully completed the issuance of $800 million in convertible notes. The notes were issued with a face interest rate of 2.25% and a conversion premium of 35%. The issuance included $100 million in notes issued under a purchase agreement granted to initial buyers. The purchase option was granted to the initial buyers within 13 days of the first issuance of the notes. All options were exercised by the initial buyers on June 17, 2024, and additional purchases were completed on June 18, 2024. The successful issuance of these convertible notes by MicroStrategy demonstrates the company's financial strength and strategic planning.