09:24 AM EST, 03/06/2024 (MT Newswires) -- MicroStrategy ( MSTR ) said Wednesday that it has priced a private offering of $700 million total principal amount of 0.625% convertible senior notes that mature in 2030.

The company said it has also granted a 13-day option for initial buyers to buy up to an additional $100 million total principal amount of the notes.

The offering, which is slated to be completed on Friday, represents an upsize to $700 million from the earlier stated offering of $600 million total principal amount of notes.

The company said it plans to use the net proceeds to buy additional bitcoin and for general corporate purposes.

MicroStrategy's ( MSTR ) stock was up 7.5% in recent Wednesday premarket activity.

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