Strategy to Repurchase $1.5 Billion of 2029 Convertible Notes for $1.38 Billion
Strategy said it agreed to repurchase about $1.5 billion principal amount of its outstanding 0% convertible senior notes due 2029 for an estimated $1.38 billion in cash through privately negotiated transactions. The company expects to cancel the notes after closing, retiring the debt at a discount, with settlement expected May 19.
The company said it may fund the buyback with cash reserves, proceeds from ATM equity sales and/or Bitcoin sales.
From the sources (10 posts)
@wallstengine$MSTR agreed to repurchase about $1.50B of its 0% convertible senior notes due 2029 for an estimated $1.38B in cash. Strategy expects to fund it with cash reserves, ATM proceeds and/or bitcoin sales, then cancel the notes after closing.
@zerohedgeStrategy Repurchases $1.50b of Convertible Senior Notes
@fintechfrankRT @TheBlockCo: NEW: STRATEGY TO BUY BACK $1.5B OF 2029 CONVERTIBLE NOTES FOR ABOUT $1.38B
@saylorStrategy to repurchase $1.5 billion principal amount of 2029 convertible notes. $MSTR $STRC
@kalshi_cryptoJUST IN: Michael Saylor's 'Strategy' buys back $1.5B of 2029 convertible notes
@theblockcoNEW: STRATEGY TO BUY BACK $1.5B OF 2029 CONVERTIBLE NOTES FOR ABOUT $1.38B
@coindeskJUST IN: @Strategy repurchases $1.5B of its 2029 convertible notes for $1.38B in cash, retiring the debt at a discount, with settlement expected May 19.
@wublockchainStrategy to Repurchase $1.5B Convertible Notes, May Fund Deal With Bitcoin Sales Strategy disclosed in an 8-K filing that it has agreed to repurchase approximately $1.5 billion principal amount of its outstanding 0% Convertible Senior Note
@theblockcoStrategy to retire $1.5 billion in convertible notes at a discount, may sell bitcoin to fund buyback
@kalshi_cryptoBREAKING: Michael Saylor's 'Strategy' may sell Bitcoin to fund buyback