The $600 million in senior convertible notes will mature in March 2030, unless earlier repurchased, redeemed or converted into cash or MicroStrategy stock.
MicroStrategy, the largest corporate holder of Bitcoin (BTC), is set to raise $600 million as part of a move to buy more Bitcoin.
The business intelligence firm confirmed the news in a March 4 statement, revealing the funds will be issued in the form of senior convertible notes.
Senior convertible notes are a debt security that can be converted into equity at a later date. They’re “senior” to common stock in the sense that holders have priority in the event of bankruptcy or liquidation.
