Cryptocurrencies
MicroStrategy Increases Convertible Note Sale by 40% to $700 Million
- Buyers granted the option to buy $100 million more of debt
- The notes due in 2032 will pay an annual yield of 2.25%
Michael Saylor
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
MicroStrategy Inc. increased its convertible note offering by 40% to $700 million, a day after the enterprise software maker announced plans to use the proceeds raised to buy more Bitcoin.
The largest publicly-traded corporate holder of Bitcoin said in a statement Friday that the notes maturing in 2032 will be priced to yield 2.25%. The firm also granted buyers the option of purchasing another $100 million of the senior securities.