In a tweet published just now, the tireless leader of Strategy (formerly known as MicroStrategy) Michael Saylor announced that his company has successfully completed a security offering that helped them raise a mind-blowing $2 billion from investors. He shared a fresh press release issued by the company.
$2 billion to buy more Bitcoin
That campaign executed an offering of 0% convertible senior notes due to expire in 2030 – Strategy has sold $2 billion worth of them. The document stresses that the notes were sold in a private offering only to “persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933.”
A bonus for initial purchases was an opportunity to buy an extra $300 million aggregate principal amount of notes within five days from the date when those notes were first issued.
While these senior notes will mature on March 1, 2030, holders will be able to convert their notes starting December 3, 2029, and receive a combination of cash and MSTR class A common shares at the company’s choice.
The net proceeds from this fundraising offering constituted $1.99 billion after all fees and estimated expenses were deducted. The company plans to use them to acquire more Bitcoin and for working capital, according to the press release.
