MicroStrategy Has Stepped Up Its Steps To Invest In Bitcoin (BTC)!
coinputin.com – MicroStrategy, which attracted the attention of the cryptocurrency community with its bitcoin (BTC) investments, announced today in a press release that it is working to buy another $ 550 million worth of Bitcoin.
Nasdaq-listed MicroStrategy today announced pricing of 550% convertible senior notes (notes) with a total principal amount of $ 0.750 million. The promissory notes will be sold in a special offer to qualified corporate buyers based on Rule 144A under the Securities Act of 1933 (Securities Act) as amended. MicroStrategy also gave first-time buyers the option to purchase a total principal amount of promissory notes up to an additional $ 100 million within a 13-day period beginning on the date of the first issuance of promissory notes. The offering is expected to close on December 11, 2020, depending on meeting the traditional closing conditions.
What’s The Company’s Plan?
Just 2 days ago, the company announced that it would prepare a $ 400 million exchange bill offer, and it was stated that the proceeds would be invested in Bitcoin. MicroStrategy has already made a $ 475 million purchase of BTC this year.
The plan is to sell $ 550 million of 0.750% Convertible Senior Notes to qualified corporate buyers. A convertible note is a debt securities that allows the holder to convert the value into cash, shares in the company, or a combination of the two. Owners receive interest twice a year on bills that are due in December 2025.