Strategy, previously known as MicroStrategy, has successfully completed a $2 billion convertible note offering aimed at acquiring more Bitcoin. The offering, finalized on February 24, features zero coupon notes that will mature on March 1, 2030, with each $1,000 of notes convertible into 2.3072 shares of Strategy's Class A common stock at a conversion price of $433.43 per share, representing a 35% premium over the current market price. After fees and expenses, the company netted approximately $1.99 billion, which will primarily be allocated to corporate purposes, including Bitcoin acquisitions. This $2 billion offering is a key component of Strategy’s ambitious '21/21 Plan,' which aims to secure a total of $42 billion in capital over the next three years, split between equity and debt. Strategy has already raised $20 billion towards this goal as part of its ongoing strategy to increase its Bitcoin holdings, significantly impacting the cryptocurrency market.

Source 🔗