ConvertibleExpiredBTC
0.75% Convertible Notes due 2025
MSTR-Dec25
$183.80▲ 3.74%
BTC Holdings
818,334 BTC
Total Debt
$19.61B
Leverage
9.1%
mNAV
0.98x
Outstanding
$0.00
Issue date
2020-12-11
Principal
$650.00M
Coupon
0.75%
Maturity
2025-12-15
Conversion price
$39.8
ITM Status
ITM (+361.8%)
- First convertible issued under BTC treasury strategy
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Jun 15, Dec 15
- Rate type
- Fixed
- Forced conversion
- On or after Dec 20 2023 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Call provision
- On or after Dec 20 2023 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Upon fundamental change at 100% of principal plus accrued interest
- Use of proceeds
- Bitcoin acquisition per Treasury Reserve Policy and general corporate purposes
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2024-07-15 | Redemption | $0.00 |
| 2020-12-11 | Issuance | $650.00M |
- 2024-07-15 — $0
- 2020-12-11 — $650,000,000