© Shutterstock Microstrategy (MSTR) acquires approximately 12,000 bitcoins
Microstrategy, Inc. (NASDAQ 🙂 revealed:
As previously disclosed, on March 8, 2024, MicroStrategy Incorporated (“MicroStrategy”) completed a private offering of convertible senior notes (the “Offering”). The offering, which included a 0.625% coupon and a conversion premium of approximately 42.5% over the last reported sales price of MicroStrategy's Class A common stock on March 5, 2024, was well received in the market and increased to a total of 800 million dollars in total. main amount. This amount included the exercise by the initial buyers of their option to purchase $100 million in additional bonds. The net proceeds from the Offering to MicroStrategy were approximately $782.0 million.
On March 11, 2024, MicroStrategy announced that, during the period from February 26, 2024 to March 10, 2024, MicroStrategy acquired approximately 12,000 bitcoins for approximately $821.7 million in cash, using $781.1 million of proceeds from the Offering and $40.6 million of excess cash. (defined in our annual report on Form 10-K for the fiscal year ended December 31, 2023), at an average price of approximately $68,477 per bitcoin, including fees and expenses.
As of March 10, 2024, MicroStrategy, together with its subsidiaries, owned a total of approximately 205,000 bitcoins, which were acquired at an aggregate purchase price of approximately $6.91 billion and an average purchase price of approximately $33,706 per bitcoin , including fees and expenses. .
