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MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
MicroStrategy is turning to investors to fund up to $400 million more in bitcoin purchases.
By Danny Nelson
Updated Sep 14, 2021, 10:39 a.m. Published Dec 7, 2020, 9:15 p.m. 1 min read
MicroStrategy said Monday it plans to sell up to $400 million in a convertible senior notes offering that will likely fund yet more bitcoin allocations.
- The business intelligence company said in a press release it will "invest the net proceeds from the sale in bitcoin in accordance with its Treasury Reserve" after first making way for business expenses.
- Only "qualified institutional buyers" will be permitted to buy the interest-bearing notes, which mature in five years. MicroStrategy can convert the notes into cash, class A shares or a combination of the two starting in December 2023.
- Last week, Chief Executive Michael Saylor expanded MicroStrategy's bitcoin treasury reserve to 40,824 bitcoins.
Higit pang Para sa Iyo
Trump Media withdrew its bitcoin ETF filing as analysts pointed to fee pressure, weak demand and fierce competition in the crowded spot bitcoin ETF market.
Ano ang dapat malaman:
- Trump Media & Technology Group scrapped plans for its Truth Social bitcoin and bitcoin-and-ether ETFs after withdrawing SEC registration statements this week.
- ETF analysts say the decision was driven less by structural concerns and more by a crowded spot bitcoin ETF market, collapsing fees and weak demand for Trump Media’s...
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