Summary by Moomoo AI
MicroStrategy Incorporated has announced a private offering of $600 million in convertible senior notes due 2030, with an option for initial purchasers to buy an additional $90 million within a 13-day period starting from the issue date. The offering, subject to market conditions, is expected to close on March 8, 2024. The company later priced the offering at $700 million with the option increased to $100 million. Net proceeds are estimated at approximately $684.3 million, or $782.0 million if the additional notes are fully purchased. These funds are intended for the acquisition of more bitcoin and general corporate purposes. The notes will be sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933. The press releases related to the offering and pricing are included as exhibits in the company's Current Report on Form 8-K filed with the SEC.