MicroStrategy stock increased 12.96% after it acquired 51,780 BTC for $4.6 billion at $88,627 per Bitcoin and announced $1.75 billion convertible notes offering to purchase more Bitcoin

On November 18, 2024, MicroStrategy Incorporated (Nasdaq: MSTR) stock increased 12.96% after, MicroStrategy, the world's largest Bitcoin treasury holder, has announced two developments this week: MicroStrategy has acquired 51,780 BTC for $4.6 billion at $88,627 per Bitcoin and the proposal of a $1.75 billion private offering of convertible senior notes.

Bitcoin Holdings Update

Michael Saylor⚡️ on X: "MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 $BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin. $MSTR 

As of November 17, 2024, MicroStrategy reported holding 331,200 Bitcoin, acquired for $16.5 billion, translating to an average purchase price of $49,874 per Bitcoin.

The company's most recent acquisition included 51,780 BTC, purchased for roughly $4.6 billion, with an average price of $88,627 per Bitcoin.

The company reported Bitcoin yield performance of 20.4% quarter-to-date (QTD) and 41.8% year-to-date (YTD).

$1.75 Billion Convertible Notes Offering

Michael Saylor⚡️ on X: "MicroStrategy Announces Proposed Private Offering of $1.75B of Convertible Senior Notes. 

MicroStrategy announced its intention to offer $1.75 billion in convertible senior notes due 2029. The notes will bear no regular interest and will mature on December 1, 2029, unless converted, redeemed, or repurchased earlier.

The company has also provided an option for initial purchasers to acquire an additional $250 million in notes.

The proceeds from this offering are intended for the acquisition of additional Bitcoin and general corporate purposes. The notes are set to be unsecured, senior obligations of the company and may be converted into cash, shares of MicroStrategy’s Class A common stock, or a combination thereof. Conversion details will depend on market conditions at the time of issuance.

Upcoming Webinar

MicroStrategy will host a video webinar on November 19, 2024, to discuss the proposed convertible notes offering. Qualified institutional buyers are invited to register via the company's investor relations portal.

For further details on the proposed notes offering or to register for the webinar, visit MicroStrategy’s Investor Relations page.

About MicroStrategy

MicroStrategy is recognized as a pioneer in Bitcoin treasury strategy, leveraging its holdings as a reserve asset while also advancing enterprise analytics through AI-powered software solutions.