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21 June 2021

Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC – Featured Bitcoin News

Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC – Featured Bitcoin News


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The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins.

The notes will be fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Microstrategy Services Corporation, a wholly owned subsidiary of Microstrategy, and certain subsidiaries of Microstrategy that may be formed or acquired after the closing of the offering.

The company further explained that “The notes and the related guarantees will be secured, on a senior secured basis with Microstrategy’s existing and future senior indebtedness, by security interests on substantially all of Microstrategy’s and the guarantors’ assets, including any bitcoins or other digital assets acquired on or after the closing of the offering.”?

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