08:51 AM EDT, 06/14/2024 (MT Newswires) -- MicroStrategy ( MSTR ) said Friday that it has priced its offering of $700 million worth of 2.25% convertible senior notes due 2032.

The offering, which is expected to close Monday, was upsized from $500 million, the company said.

The company has also granted the initial purchasers of the notes an option to buy up to an additional $100 million worth of the notes.

MicroStrategy ( MSTR ) said it expects the net proceeds from the sale will be approximately $687.8 million or $786 million if the initial purchasers exercise their option to purchase additional notes in full. Net proceeds will be used to acquire Bitcoin and for general corporate purposes, the company added.

Price: 1,511.00, Change: +27.12, Percent Change: +1.83