10:03 AM EDT, 03/11/2024 (MT Newswires) -- MicroStrategy ( MSTR ) said Monday it has closed an upsized private placement of its 0.625% convertible senior notes due 2030, raising $800 million in gross proceeds, including $100 million from initial purchasers fully exercising their option to acquire the six-year convertible notes.

The company said the notes have an initial conversion price of $1,497.68 per share, subject to adjustment following certain events. After first paying off underwriter discounts and other offering expenses, the company used the $782 million in net proceeds to acquire additional bitcoin, it said.

MicroStrategy ( MSTR ) shares were climbing more than 4% early in Monday's regular session.

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