MicroStrategy, Inc. ( MSTR ) shares are climbing after-hours after the company announced it completed its previously announced offering of its 0% convertible senior notes due 2029. 

The Details: MicroStrategy ( MSTR ) said the aggregate principal amount of the notes sold in the offering was $3 billion, which includes $400 million aggregate principal amount of notes issued pursuant to an option to purchase. 

Read More: Rumble CEO Considers Bitcoin Investment, Engages Michael Saylor As Shares Rally

The net proceeds from the sale of the notes were approximately $2.97 billion, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by the company. 

MicroStrategy ( MSTR ) intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin (CRYPTO: BTC) and for general corporate purposes. MicroStrategy ( MSTR ) holds a total of 331,200 Bitcoin purchased at an average price of approximately $49,874 per coin as of Nov. 17.

What Else: MicroStrategy ( MSTR ) shares fell more than 16% in Thursday's regular session after short-seller Citron Research's Andrew Left announced he took a new short position in the stock which has rallied more than 50% since President-elect Donald Trump won the election on Nov. 5. 

"Fast forward to today: $MSTR has skyrocketed to over $5,000 (adjusted) … while Citron remains bullish on Bitcoin, we’ve hedged with a short $MSTR position," Left said. "Much respect to @saylor, but even he must know $MSTR is overheated," Citron Research wrote in a post on X. 

MSTR Price Action: According to Benzinga Pro, MicroStrategy ( MSTR ) shares are up 5.48% after-hours at $410.05 at the time of publication Thursday. 

Read More: 

Bitcoin Could Reach $1 Million By 2037, Economist Says: ‘Buy Of A Lifetime’ Opportunity