MicroStrategy Convertible Deal Impact on Share Price
MicroStrategy Shares Decline After Convertible Deal
The latest sale was of 0.875% convertible senior notes due 2031 and convertible into cash or shares of MicroStrategy’s class A common stock, or a combination of both.
Before Sept. 15, 2030, the notes would only be convertible after certain events and during certain periods, according to MicroStrategy.
The conversion rate, which is subject to adjustment, is initially 0.4297 MicroStrategy shares per $1,000 principal amount of notes, or the equivalent to a conversion price of approximately $2,327.21 per share, according to the company.
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