The strategy aims to raise an additional $2 billion through a private offer of senior convertible notes at 0%.
The largest corporate Bitcoin holder (BTC ) has released a press release stating that the proceeds of this transaction will be used to fund general corporate needs, such as the purchase of the crypto-asset’s flagship and for working capital.
After fees and expenses, Strategy estimates the net proceeds of the offering to be around $1.99 billion.
Senior convertible notes are debt securities that may be converted to a certain amount of shares issued by the issuer. The notes are due to mature at a certain date, and can be paid in cash or converted into equity.
Strategy (formerly MicroStrategy) says that the notes won’t bear interest at all and will expire on March 1, 2030, unless they are repurchased or converted.
According to Strategy, the offer is scheduled to end on February 21, 2019.
According to data from Bitcoin Treasuries, Strategy holds over 47 billion dollars worth of BTC (478 740 BTC).
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The post Strategy Ready To Raise An Additional $2,000,000,000 Says A Part Of Proceeds Will be Used To Buy More Bitcoin could change as new information becomes available.
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