ConvertibleActiveBTC
0% Convertible Notes due 2030
MSTR-Mar30B
$128.66▼ 0.16%
BTC Holdings
766,970 BTC
Total Debt
$18.60B
Leverage
10.9%
mNAV
0.82x
Outstanding
$2.00B
Insufficient history
Issue date
2025-02-24
Principal
$2.00B
Coupon
0.00%
Maturity
2030-03-01
Conversion price
$433.43
ITM Status
OTM (-70.3%)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Forced conversion
- On or after Mar 5 2027 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Holders may require repurchase on Mar 1 2028 at par plus accrued interest, or upon fundamental change
- Use of proceeds
- General corporate purposes, including the acquisition of bitcoin and for working capital
Sources(2)
- $2B 0% Convertible Notes …Press Release$2B 0% Convertible Notes due 2030Strategy Inc. — 2025-02-24
- Form 8-K (0% convertible …FilingForm 8-K (0% convertible notes due 2030)Items 1.01/2.03Strategy Inc. — 2025-02-24
Participants
Holders & Underwriters(1)
- Form 8-K (0% convertible …Morgan Stanley & Co. LLCunderwriter$2Bas of 2025-02-24Representative of the several initial purchasers
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-02-24 | Issuance | $2.00B | $2B 0% Convertible Notes … |
- 2025-02-24 — $2,000,000,000press_release — Strategy Inc.Source