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MicroStrategy plans second convertible debt offering this month to buy more bitcoin
MicroStrategy is planning to raise capital through convertible bonds offering to buy bitcoin for the second time in less than 10 days, as the aggressive crypto investor looks to increase its exposure to the booming cryptocurrency. The software firm said after markets closed on Wednesday that it was offering $500 million in convertible notes due in 2031 to institutional investors. The company had announced a $600 million private offering in convertible notes on March 5. Its shares dropped 7 per cent on Thursday, after hitting a 24-year high in the previous session. The stock has surged nearly threefold so far in 2024. ... (full story)