MicroStrategy Prices 0% Convertible Senior Notes Due 2029, Stock Up In Pre-Market

(RTTNews) - MicroStrategy Inc. (MSTR), Wednesday announced the pricing of its offering of $2.6 billion of its zero percent convertible senior notes due 2029, with the initial conversion price set at $672.40 per share.

The recently announced offering was upsized from the previously announced offering of $1.75 billion aggregate principal amount of notes.

The Bitcoin Treasury company intends to raise about $2.58 billion from the offering, which will be used to acquire additional bitcoins and for general corporate purposes.

The offering is set to close on November 21.

During the pre-market hours, MicroStrategy's stock is trading at $463.60, up 7.68 percent on the Nasdaq.