MicroStrategy to Buy Another $600 Million Bitcoin

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Micostrategy has announced another private offering of $600 million in order to buy bitcoin. The publicly traded company said: “MicroStrategy (Nasdaq: MSTR) intends to offer, subject to market conditions and other factors, $600 million aggregate principal amount of convertible senior notes due 2027 (the “notes”) in a private offering to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $90 million aggregate principal amount of the notes… MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins.” Microstrategy significantly exceeded its previous likewise offer, initially starting with $400 million, but ended up with buying $650 million…

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