{"id":439983,"date":"2021-02-19T10:24:15","date_gmt":"2021-02-19T15:24:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=439983"},"modified":"2021-02-19T10:24:15","modified_gmt":"2021-02-19T15:24:15","slug":"microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\/","title":{"rendered":"MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds<\/b><\/p>\n<p>TYSONS CORNER, Va.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nMicroStrategy<sup>\u00ae<\/sup> Incorporated (Nasdaq: MSTR) (\u201cMicroStrategy\u201d) today announced the closing of its previously announced offering of 0% convertible senior notes due 2027 (the \u201cnotes\u201d). The aggregate principal amount of the notes sold in the offering was $1.05 billion, which includes $150 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, which the initial purchasers exercised in full on February 18, 2021 and which additional purchase was also completed today. The notes were sold in a private offering to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d).\n<\/p>\n<p>\nThe notes are unsecured, senior obligations of MicroStrategy. The notes do not bear regular interest, and the principal amount of the notes does not accrete. The notes will mature on February 15, 2027, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after February 20, 2024, MicroStrategy may redeem for cash all or a portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of MicroStrategy\u2019s class A common stock has been at least 130% of the conversion price then in effect for a specified period of time ending on the trading day immediately before the date the notice of redemption is sent.\n<\/p>\n<p>\nHolders of notes may require MicroStrategy to repurchase their notes upon the occurrence of certain events that constitute a fundamental change under the indenture governing the notes at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus any accrued and unpaid special interest to, but excluding, the date of repurchase. In connection with certain corporate events or if MicroStrategy calls any note for redemption, it will, under certain circumstances, be required to increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or notice of redemption.\n<\/p>\n<p>\nThe notes are convertible into cash, shares of MicroStrategy\u2019s class A common stock, or a combination of cash and shares of MicroStrategy\u2019s class A common stock, at MicroStrategy\u2019s election. Prior to August 15, 2026, the notes are convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second scheduled trading day immediately preceding the maturity date.\n<\/p>\n<p>\nThe conversion rate for the notes is initially 0.6981 shares of MicroStrategy\u2019s class A common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $1,432.46 per share. This represents a premium of approximately 50% over the last reported sale price of $955.00 per share of MicroStrategy\u2019s class A common stock on The Nasdaq Global Select Market on February 16, 2021. The conversion rate is subject to adjustment upon the occurrence of certain events.\n<\/p>\n<p>\nMicroStrategy estimates that the net proceeds from the sale of the notes will be approximately $1.03 billion, after deducting the initial purchasers\u2019 discounts and commissions and estimated offering expenses payable by MicroStrategy.\n<\/p>\n<p>\nMicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoin.\n<\/p>\n<p>\nThe notes were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of MicroStrategy\u2019s class A common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The offering of the notes was made only by means of a private offering memorandum.\n<\/p>\n<p>\nThis press release shall not constitute an offer to sell, or a solicitation of an offer to buy the notes, nor shall there be any sale of, the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction.\n<\/p>\n<p><b>About MicroStrategy Incorporated<\/b><\/p>\n<p>\nMicroStrategy (Nasdaq: MSTR) is the largest independent publicly-traded business intelligence company, with the leading enterprise analytics platform. Our vision is to enable Intelligence Everywhere<sup>\u2122<\/sup>. MicroStrategy provides modern analytics on an open, comprehensive enterprise platform used by many of the world\u2019s most admired brands in the Fortune Global 500. Optimized for cloud and on-premises deployments, the platform features HyperIntelligence<sup>\u00ae<\/sup>, a breakthrough technology that overlays actionable enterprise data on popular business applications to help users make smarter, faster decisions.\n<\/p>\n<p>\nMicroStrategy, Intelligence Everywhere, and HyperIntelligence are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nStatements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute \u201cforward-looking statements\u201d within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the estimated net proceeds of the offering and the anticipated use of such net proceeds. The words \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwill,\u201d \u201cwould,\u201d and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to market conditions and the other factors discussed in the \u201cRisk Factors\u201d section of MicroStrategy\u2019s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 12, 2021, and the risks described in other filings that MicroStrategy may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and MicroStrategy specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210219005359r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210219005359\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210219005359\/en\/<\/a><\/span><\/p>\n<p>\nMicroStrategy Incorporated<br \/>\n<br \/>Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ir@microstrategy.com\">ir@microstrategy.com<br \/>\n<\/a><br \/>(703) 848-8600\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Virginia<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Data Management Professional Services Technology Software<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds TYSONS CORNER, Va.&#8211;(BUSINESS WIRE)&#8211; MicroStrategy\u00ae Incorporated (Nasdaq: MSTR) (\u201cMicroStrategy\u201d) today announced the closing of its previously announced offering of 0% convertible senior notes due 2027 (the \u201cnotes\u201d). The aggregate principal amount of the notes sold in the offering was $1.05 billion, which includes $150 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, which the initial purchasers exercised in full on February 18, 2021 and which additional purchase was also completed today. The notes were sold &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-439983","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds TYSONS CORNER, Va.&#8211;(BUSINESS WIRE)&#8211; MicroStrategy\u00ae Incorporated (Nasdaq: MSTR) (\u201cMicroStrategy\u201d) today announced the closing of its previously announced offering of 0% convertible senior notes due 2027 (the \u201cnotes\u201d). The aggregate principal amount of the notes sold in the offering was $1.05 billion, which includes $150 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, which the initial purchasers exercised in full on February 18, 2021 and which additional purchase was also completed today. The notes were sold &hellip; Continue reading &quot;MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-19T15:24:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210219005359r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds\",\"datePublished\":\"2021-02-19T15:24:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\\\/\"},\"wordCount\":1104,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210219005359r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/microstrategy-completes-1-05-billion-offering-of-convertible-senior-notes-due-2027-at-0-coupon-and-50-conversion-premium-with-bitcoin-use-of-proceeds\\\/\",\"name\":\"MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium with Bitcoin Use of Proceeds - 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The aggregate principal amount of the notes sold in the offering was $1.05 billion, which includes $150 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, which the initial purchasers exercised in full on February 18, 2021 and which additional purchase was also completed today. 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