Yesterday February 16, 2021, Michael Saylor's MicroStrategy announced another round of buying Bitcoin by raising $600 million in convertible senior notes to qualified institutional buyers.
This private offering will be introduced as a type of unsecured, senior obligations of MicroStrategy that can be converted into cash or shares.
The interest to the investors is expected to be payable semi-annually, beginning on August 15, 2021. The notes are expected to mature on February 15, 2027, unless earlier repurchased, redeemed or converted.
Microstrategy plans to grant an additional $90 million aggregate amount of notes, totaling to $690 million investment. This announcement is indicating Microstrategy as an upright, forward pushing start in the new year after it bought over $1 billion in Bitcoin last year.
Source: https://www.microstrategy.com/en/investor-relations/press/microstrategy-announces-proposed-private-offering-of-600m-of-convertible-senior-notes
