08:52 AM EDT, 03/15/2024 (MT Newswires) -- MicroStrategy ( MSTR ) said Friday that it is offering 0.875% convertible senior notes due 2031 for an aggregate of $525 million.

The notes will be unsecured, payable semi-annually in arrears on March 15 and Sept. 15 of each year and will mature on March 15, 2031.

MicroStrategy ( MSTR ) said it expects net proceeds of $515 million from the offering, or $592.3 million if initial purchases fully exercise their option to buy up to an additional $78.75 million of the notes.

The private offering is expected to completed on Monday.

Shares of the company were down nearly 4% in recent Friday premarket activity.

Price: 1611.05, Change: -65.8, Percent Change: -3.92