MicroStrategy Announces Pricing of $700 Million Convertible Senior Notes Offering

MicroStrategy has announced the pricing of its $700 million 2.25% convertible senior notes ("Notes") due 2032. These Notes will be sold privately to persons who are reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended ("Securities Act"). MicroStrategy has also granted initial purchasers of the Notes an option to purchase up to an additional $100 million aggregate principal amount of the Notes within 13 days from the date of the initial issuance of the Notes. This offering has been upsized from the previously announced $500 million aggregate principal amount of Notes. The offering is expected to close on June 17, 2024, subject to customary closing conditions.