MicroStrategy announces pricing of $500 million of 6.125% senior secured notes due 2028 to acquire additional Bitcoin. MicroStrategy Incorporated announced today the pricing of its offering. They priced the offering of $500 million aggregate principal amount for the senior secured notes due 2028.
An Annual Rate
Moreover, these notes will bear interest at an annual rate of 6.125%. In addition, MicroStrategy will sell the notes in a private offering to qualified institutional buyers in reliance on Rule 144A under the securities act of 1933.
Moreover, the securities act of 1933 is an amendment to the securities act. Accordingly, MicroStrategy will sell only to persons outside of the United States in compliance with Regulation S under the securities act. Moreover, these notes will be fully and unconditionally guaranteed on a senior secured basis jointly and severally by MicroStrategy services corporation.
MicroStrategy services corporation
MicroStrategy services corporation is a subsidiary of MicroStrategy. However, MicroStrategy estimates that the net proceeds from the sale of notes and related guarantees will be approximately $488 million.
They have come to this amount after deducting the initial purchase discounts and commissions along with the estimated offering expenses MicroStrategy has to pay. Moreover, MicroStrategy intends to use this net proceeds from the sale of the notes to acquire additional Bitcoin.