The business intelligence and analytics company announced the move on June 8 which CEO Michael Saylor tweeted on his feed a few hours later. The notes will be sold in a private offering to qualified institutional buyers and the offering is expected to close on June 14, 2021.
The company announced the pricing of $500 million of 6.125% Senior Secured Notes to acquire additional Bitcoin. According to Bloomberg, the firm received about $1.6 billion in orders for the offering, including interest from a large number of hedge funds.
MicroStrategy announces pricing of $500 Million of 6.125% Senior Secured Notes due 2028 to acquire additional #bitcoin. $MSTRhttps://t.co/qEhHtJS69Q
— Michael Saylor (@michael_saylor) June 8, 2021
MicroStrategy has already issued convertible bonds worth around $1 billion in its mission to scoop up more BTC. However, this is the first-ever corporate bond sale with proceeds earmarked for such purchases as Saylor continues on his quest to make it an official corpo
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