In his post on his X account, MicroStrategy founder Michael Saylor shared that MicroStrategy has completed the $ 800 million bond offering it planned to buy more Bitcoin.
“MicroStrategy announced today that it has completed its previously announced offering of 0.625% convertible senior notes due 2030 on March 8, 2024.
Net proceeds from the sale of the notes were approximately $782.0 million, after deducting initial purchasers' discounts and commissions and estimated offering expenses payable by MicroStrategy.
MicroStrategy used the net proceeds from the sale of the notes to obtain additional bitcoins.”
According to subsequent information, on March 11, 2024, MicroStrategy announced that it purchased approximately 12,000 Bitcoins with approximately $821.7 million in cash between February 26, 2024 and March 10, 2024.
The company said it obtained $781.1 million of this cash from proceeds from the sale of bonds and $40.6 million from excess cash.
MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477 per #bitcoin. As of 3/10/24, $MSTR hodls 205,000 $BTC acquired for ~$6.91B at average price of $33,706 per bitcoin. https://t.co/YayyKtpz8d
— Michael Saylor⚡️ (@saylor) March 11, 2024
*This is not investment advice.
