11:32 AM EDT, 03/11/2024 (MT Newswires) -- (Updates with price movement in headline and last paragraph.)

MicroStrategy ( MSTR ) said Monday it closed an upsized private placement of its 0.625% convertible senior notes due 2030, raising $800 million in gross proceeds, including $100 million from initial purchasers fully exercising their option to acquire the six-year convertible notes.

The company said the notes have an initial conversion price of $1,497.68 per share, subject to adjustment following certain events. After first paying off underwriter discounts and other offering expenses, the company said it used the $782 million in net proceeds to acquire additional bitcoin.

MicroStrategy ( MSTR ) shares rose 12% in recent trading Monday.

Price: 1595.00, Change: +169.41, Percent Change: +11.88