MicroStrategy stock slides after announcing new $400M debt raise to buy Bitcoin
The company's stock has dropped by more than 60% after topping out at $1,135 in early February. A lackluster balance sheet, excessive debt load and over-leveraged exposure to Bitcoin have crashed MicroStrategy stock by more than 63% since February already. Nevertheless, the business intelligence company has ignored the risks of its frothy valuations, and it now wants to raise more debt and buy Bitcoin with proceeds (BTC).MicroStrategy announced on June 7 that it "intends to raise $400 million aggregate principal amount of senior secured notes in private offering [...] to acquire additional....
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With the price of Bitcoin moving above $40,000 for the first time in weeks, the company could soon hold more than 100,000 BTC. Business intelligence company MicroStrategy has completed its $500 million offering of secured notes, and said it plans to use the proceeds to purchase Bitcoin.In a Monday announcement, MicroStrategy said it had sold $500 million worth of senior secured notes in a private offering to buyers within and outside the United States. After deducting expenses, initial purchaser discounts, and commissions, the firm said the net proceeds were roughly $488 million, funds....
MicroStrategy is one of the loudest crypto advocates listed on Wall Street. Now, the Michael Saylor-led company is engaging in one of the first-ever corporate bond sales that specifically earmarks the proceeds for Bitcoin purchases. MicroStrategy’s Strategy? Buy The Dip After initially planning to issue $400M of the debt, by the time the deal was […]
MicroStrategy is turning to investors to fund up to $400 million more in bitcoin purchases.
MicroStrategy’s stock price rose by more than 1.5% to reach $628.44 at the time of publication, making Capital International’s shares worth roughly $600 million. Financial services company Capital International invested more than half a billion dollars into business intelligence firm MicroStrategy stock.In MicroStrategy’s filings to the U.S. Securities and Exchange Commission, or SEC, for the second quarter of 2021, the firm disclosed Capital International Investors has purchased 953,242 shares of its stock. Following the release of the SEC filing, MicroStrategy’s stock price rose by more....
Microstrategy will soon hold more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins. Microstrategy Acquiring More Bitcoin Microstrategy Inc. (Nasdaq: MSTR) announced Monday it intends to offer $400 million of “senior secured notes due 2028” in a private offering to qualified institutional buyers. The company detailed: The notes will be fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Microstrategy Services Corporation, a....