MicroStrategy Seeks $400M Via Institutional Debt to Purchase Bitcoins; Takes $285M Bitcoin Impairment Charge Hit

  • MicroStrategy Inc MSTR plans to offer $400 million senior secured notes due 2028 in a private institutional offering.
  • The offering proceeds will be utilized to acquire additional bitcoins.
  • MicroStrategy purchased 20,857 bitcoins for $1.086 billion in Q1. It bought 253 bitcoins for $15 million in Q2.
  • The company will be taking a $284.5 million hit in the current quarter as an impairment charge based on the fluctuations in the market price of bitcoin during the second quarter of 2021.
  • Price action: MSTR shares traded lower by 3.17% at $469.33 during the market session on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsOfferingsMarketsTechMediaBitcoinsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!