MicroStrategy Announces Pricing for Offering of Convertible Senior Notes

MicroStrategy today announced the pricing of its $525 million aggregate principal amount of 0.875% convertible senior notes due 2031 (the "Notes"). The Notes will be sold in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). MicroStrategy has also granted the initial purchasers of the notes an option to purchase up to an additional $78.75 million in the aggregate principal amount of the notes for a period of 13 days beginning on and including the date when the notes are first issued. The offering is an increase from a previously announced offering of $500 million in aggregate principal amount of notes. The offering is expected to close on March 18, 2024, subject to customary closing conditions.