With Fresh Capital Raise, Strategy Prepares to Deploy $2B for Bitcoin Purchases

Strategy Finalizes $2 Billion Convertible Note Offering, Closing Set for Friday

Strategy (MSTR) announced Thursday that it has priced its $2 billion offering of zero-interest, five-year senior convertible notes, with the transaction expected to close on Friday.

The notes will initially convert at a rate of 2.3072 MSTR shares per $1,000 principal amount, equating to a conversion price of $433.43 per share, according to the company’s statement. In premarket trading, MSTR shares have climbed 1.5% to $323.53.

Net proceeds are projected to reach approximately $1.99 billion, with a potential increase to $2.28 billion if underwriters fully exercise their overallotment option.

Strategy currently holds 478,740 bitcoin (BTC), worth an estimated $46.5 billion at the current BTC price of just over $97,000.