MicroStrategy Announces Pricing of $700 million Convertible Senior Notes Issuance

MicroStrategy today announced the pricing of its 2.25% Convertible Senior Notes (the "Notes") with a total principal amount of $700 million due 2032. The Notes will be sold in a private placement to a person reasonably believed to be an eligible institutional buyer under Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"). MicroStrategy also grants the initial purchaser of the Notes the option to purchase notes with a total principal amount of up to $100 million within 13 days of the date of the Notes' initial offering. The offering is an expansion of the previously announced $500 million total principal note offering. The offering is expected to close on June 17, 2024, subject to customary closing conditions.