Feb 20, 2025, 1:24 p.m. UTC
Strategy (MSTR) Thursday morning announced the pricing on $2 billion of 0% convertible five-year senior notes. The deal is expected to close on Friday.
The initial conversion rate is 2.3072 shares of MSTR for $1,000 principal amount of notes, representing an initial conversion price of $433.43 per share, according to the press release. MSTR shares are higher by 1.5% premarket to $323.53.
Proceeds are expected to be $1.99 billion, or potentially $2.28 billion should the underwriters exercise their greenshoe option.
Strategy currently holds 478,740 bitcoin (BTC) worth about $46.5 billion at BTC’s current price just above $97,000.
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