04:57 PM EDT, 03/13/2024 (MT Newswires) -- MicroStrategy ( MSTR ) said late Wednesday it plans a private offering of $500 million of convertible senior notes due March 15, 2031.

The company expects to grant an overallotment option to the initial purchasers to acquire up to an additional $75 million of the notes.

MicroStrategy ( MSTR ) said it intends to use the net proceeds to buy bitcoins and for general corporate purposes.

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