MicroStrategy completes $1.05 billion convertible bond offering, net proceeds to be invested in Bitcoin
On the evening of February 19th at 11:27, MicroStrategy, a US-listed company that aggressively buys Bitcoin, announced the completion of a Convertible Notes issuance, totaling $1.05 billion. Originally planning to issue $900 million in Convertible Notes, with an additional $150 million purchased, they raised a total of $1.05 billion.
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Conversion Rate Offers 50% Discount
According to the rules, for every $1000 convertible bond, it can be exchanged for 0.6981 shares of MicroStrategy stock, equivalent to $1432.46 per share. Based on MicroStrategy's stock price on February 16th at $955, this represents a 50% discount. The convertible bond will mature on February 15, 2027, with no fixed interest.
Last Time Convertible Bonds Were Issued
Last time, MicroStrategy issued $550 million convertible bonds in December last year. The conversion price was 2.5126 shares per $1000 investment. At that time, on December 8th, MicroStrategy's stock price of $289.45 was 37.5% higher, at $397.99 per share. Additionally, there was a 0.75% interest rate.
MicroStrategy Stock Price
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