Strategy Finalizes Pricing on $2B Convertible Note Offering, Closing Expected Friday
Strategy (MSTR) has officially priced its $2 billion offering of zero-coupon, five-year senior convertible notes, with the deal set to close on Friday.
According to the company’s announcement, the notes will have an initial conversion rate of 2.3072 MSTR shares per $1,000 principal amount, translating to a conversion price of $433.43 per share. In premarket trading, MSTR shares have risen 1.5%, reaching $323.53.
The offering is expected to generate approximately $1.99 billion in proceeds, with the potential to increase to $2.28 billion if underwriters fully exercise their greenshoe option.
As of now, Strategy holds 478,740 bitcoin (BTC), valued at around $46.5 billion, based on BTC’s current price of just over $97,000.
