Just-In: MicroStrategy To Raise $1.75B Through Private Offering To Buy More Bitcoin

American business intelligence and software firm MicroStrategy Inc. has announced plans to offer the public up to $1.75 billion of its Convertible Senior Notes. The firm plans to issue these notes through a private offering, subject to market conditions. The company plans to use the funds to buy more Bitcoin (BTC) and for general corporate corporate purposes.

MicroStrategy and Latest Private Offering

According to the firm’s update, the private offering will be offered to qualified institutional investors at a 0% interest rate. The company detailed that the initial purchasers have the option to purchase an additional $250 million worth of the notes. This is subject to a 3-day timeline from the initial date of the first issuance.

The offering will mature on December 1, 2029 unless it is repurchased earlier by the firm. MicroStrategy has a rich history of issuing related debt offering in the past. This is in line with its Bitcoin acquisition strategy.

This is a developing story, please check back for updates!!!

 

The post Just-In: MicroStrategy To Raise $1.75B Through Private Offering To Buy More Bitcoin appeared first on CoinGape.