ConvertibleActiveBTC
0.625% Convertible Notes due 2028
MSTR-Sep28
$128.66▼ 0.16%
BTC Holdings
766,970 BTC
Total Debt
$18.60B
Leverage
10.9%
mNAV
0.82x
Outstanding
$1.01B
Insufficient history
Issue date
2024-09-20
Principal
$1.01B
Coupon
0.63%
Maturity
2028-09-15
Conversion price
$183.19
ITM Status
OTM (-29.8%)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Mar 15, Sep 15
- Rate type
- Fixed
- Forced conversion
- On or after Dec 20 2027 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Holders may require repurchase on Sep 15 2027 at 100% of principal plus accrued interest, or upon fundamental change
- Use of proceeds
- Redemption of $500M 6.125% Senior Secured Notes due 2028, BTC acquisition and general corporate purposes
Sources(2)
- $1.01B 0.625% Convertible…Press Release$1.01B 0.625% Convertible Notes due 2028Strategy Inc. — 2024-09-20
- Form 8-K (0.625% converti…FilingForm 8-K (0.625% convertible notes due 2028)Items 1.01/2.03MicroStrategy Incorporated — 2024-09-20
Participants
Holders & Underwriters(1)
- Form 8-K (0.625% converti…Barclays Capital Inc.underwriter$1Bas of 2024-09-20Representative of the several initial purchasers
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-09-20 | Issuance | $1.01B | $1.01B 0.625% Convertible… |
- 2024-09-20 — $1,010,000,000press_release — Strategy Inc.Source