MicroStrategy has priced its offering of $875 million in convertible senior notes, upsizing from an initially planned $700 million. These notes, which bear a 0.625% interest rate and mature in 2028, are unsecured senior obligations. Interest is payable semi-annually, starting in March 2025. The conversion rate is set at 5.4589 shares of MicroStrategy’s Class A stock per $1,000 of principal. The company plans to sell the notes in a private offering. Following this announcement, shares dropped 1.4% in premarket trading.
