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Cryptocurrencies: 27289
Markets: 108940
Market Cap: $3,811,914,659,354     
24h Vol: $95,467,003,561
Seeking Alpha 2021-02-17 12:44:46

MicroStrategy raised $900M convertible capital to acquire more bitcoins

MicroStrategy raised $900M convertible capital to acquire more bitcoins
MicroStrategy (MSTR) has priced upsized $900M (from $60M) private offering of 0% convertible senior unsecured notes due February 15, 2027.Initial purchasers granted an option to purchase up to an additional $150M of the notes.Offering is expected to close on February 19. Net proceeds to be ~$879.3M (or ~$1B if the initial purchasers exercise their option in full) which will be used to acquire additional bitcoin.Bitcoin rally continues from $50K yesterday to $51K today.Previously: Bitcoin pushes through $50K as Michael Saylor's Microstrategy buys more (Feb. 16)Previously: Bitcoin rally keeps going, tops $51K for first time (Feb. 17)
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