04:38 PM EDT, 09/16/2024 (MT Newswires) -- MicroStrategy ( MSTR ) said Monday it plans to raise $700 million from a private offering of convertible senior notes due 2028.

The company said it expects to grant initial buyers a 13-day option to purchase up to an additional $105 million of the notes.

The net proceeds will be used to redeem all $500 million of its 6.125% senior secured notes maturing in 2028 and the balance to acquire additional bitcoin and for general corporate purposes, it said.

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