MicroStrategy to Offer $600M in Convertible Notes for Bitcoin Acquisition and Corporate Needs

$MicroStrategy(MSTR.US)$ announces a $600 million offering of convertible senior notes due in 2030, targeting qualified institutional buyers.
An additional $90 million may be offered to initial purchasers as an option.
Notes to be unsecured, senior obligations, with semi-annual interest payments starting September 15, 2024.
Proceeds intended for acquiring more $Bitcoin(BTC.CC)$ and general corporate purposes.
Offering relies on Rule 144A under the Securities Act, targeting qualified institutional buyers.
Notes convertible into cash, MicroStrategy class A common stock, or a combination, at the company's election.
Conversion options available under certain conditions before September 15, 2029, and anytime thereafter until maturity.
The interest rate, conversion rate, and other terms to be defined upon pricing of the offering.