The Michael Saylor-led software company MicroStrategy has upsized its planned convertible senior notes offering from $500 million to $525 million.

The company intends to use the proceeds to acquire more Bitcoin, as per their recent press release, following a strategy it has pursued since 2020.

MicroStrategy announced it had priced the 0.875% convertible senior notes due 2031 in a private offering to qualified institutional buyers. The notes will be sold at 100% of the principal amount with an annual interest rate of 0.875%, payable semiannually. 

After March 2028, the company can redeem the notes in cash at 100% of the principal plus accrued interest if certain conditions are met. Holders…

Read more on BitcoinMagazine