India, March 15 -- MicroStrategy Inc. (MSTR) on Friday announced the pricing of convertible senior notes of $525 million, an increase from the initial $500 million proposed, due in 2031. The offering is expected to close on March 18, 2024.
MSTR granted initial purchasers an option to buy up to an additional $78.75 million aggregate principal amount within 13 days starting from the issuance date.
The notes, which will be unsecured senior obligations of MSTR, will accrue interest at a rate of 0.875 percent per annum, paid semi-annually on March 15 and September 15 of each year starting September 15, 2024.
The maturity date for the notes is March 15, 2031, with provisions for early redemption or conversion according to their terms.
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