Strategy Secures $2 Billion in Convertible Notes, Closing Set for Friday
On Thursday, Strategy (MSTR) announced the final pricing of its $2 billion offering of zero-coupon, five-year senior convertible notes, with the transaction expected to close on Friday.
The notes have an initial conversion rate of 2.3072 MSTR shares per $1,000 principal amount, setting the conversion price at $433.43 per share. In premarket trading, MSTR shares climbed 1.5% to $323.53.
The company anticipates net proceeds of approximately $1.99 billion, which could rise to $2.28 billion if the underwriters fully exercise their greenshoe option.
Currently, Strategy holds 478,740 bitcoin (BTC), valued at around $46.5 billion, based on BTC’s price of just over $97,000.
