MicroStrategy Inc ( MSTR ) shares are moving in extended trading Monday after rallying about 13% during regular trading hours. Here’s what you need to know.

What To Know: After the market close on Monday, MicroStrategy ( MSTR ) announced a proposed private offering of $1.75 billion worth of its 0% convertible senior notes due 2029.

The company will offer the shares in a private offering to qualified institutional buyers. MicroStrategy ( MSTR ) also plans to grant the initial purchasers a three-day period to purchase up to an additional $250 million worth of the notes.

MicroStrategy ( MSTR ) said it intends to use the net proceeds from the offering to buy more Bitcoin (CRYPTO: BTC).

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The offering follows a regulatory filing from Monday morning showing that MicroStrategy ( MSTR ) acquired approximately 51,780 Bitcoin between Nov. 11 and Nov. 17 for $4.6 billion in cash.

The purchases were funded using proceeds from the sales agreement the company entered into at the end of October. MicroStrategy ( MSTR ) said it had approximately $15.3 billion remaining under the sales agreement as of Nov. 17.

As of Sunday, MicroStrategy ( MSTR ) held a total of 331,200 Bitcoin purchased at an average price of approximately $49,874 per coin.

MicroStrategy ( MSTR ) co-founder and executive chairman Michael Saylor posted a poll on X over the weekend asking whether Bitcoin would break through $100,000 by the end of the year. “Yes” was the answer of 85.6% of respondents.

MSTR Price Action: MicroStrategy ( MSTR ) shares initially traded closed Monday up almost 13%. The stock was down 0.64% in after-hours, trading at $382.33 at the time of writing, per Benzinga Pro.

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