Strategy Primed To Raise Another $2,000,000,000, Says Part of Proceeds Will Be Used To Acquire More Bitcoin – Crypto News – Crypto News
Connect with us
Strategy Primed To Raise Another $2,000,000,000, Says Part of Proceeds Will Be Used To Acquire More Bitcoin Strategy Primed To Raise Another $2,000,000,000, Says Part of Proceeds Will Be Used To Acquire More Bitcoin

others

Strategy Primed To Raise Another $2,000,000,000, Says Part of Proceeds Will Be Used To Acquire More Bitcoin – Crypto News

Published

12 months ago

on

Strategy aims to raise $2 billion in additional funding through a private offering of 0% convertible senior notes.

In a statement, the largest corporate holder of Bitcoin (BTC) says the proceeds will be used for general corporate purposes, including the acquisition of the flagship crypto asset and working capital.

“Strategy estimates that the net proceeds from the offering will be approximately $1.99 billion (or approximately $2.28 billion if the initial purchasers fully exercise their option to purchase additional notes), after deducting fees and estimated expenses.”

A senior convertible note is a debt security that can be converted into a predetermined amount of the issuer’s shares. These notes have a maturity date when they have to be repaid either in cash or through conversion into equity.

Strategy, formerly known as MicroStrategy, says the notes will not bear regular interest and will mature on March 1st, 2030 unless repurchased, redeemed, or converted. 

“The initial conversion rate is 2.3072 shares of class A common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $433.43 per share of class A common stock.”

Strategy says the offering is expected to close on February 21st.

Data from Bitcoin Treasuries indicates that Strategy currently holds 478,740 BTC worth over $47 billion.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending