Bitcoin hoarder Strategy shares up as $2 bln 0% convertible bond deal priced — TradingView News


** Shares of Strategy MSTR, co formerly known as MicroStrategy, up 1.5% at $323.40 premarket after securing capital raise to load up on more bitcoin

** Tysons Corner, Virginia-based software firm announces pricing of $2 bln 0% 5-yr convertible bond offering

** Initial conversion price of $433.43 represents 35% premium to the VWAP of MSTR shares from 1:30 p.m. ET through market close on Feb 19

** Co plans to use net offering proceeds for general purposes, including acquisition of bitcoin BTCUSD and working capital

** Earlier this month, co reported a fourth consecutive quarterly loss and booked $1 bln impairment charge on its stockpile of the world’s largest cryptocurrency

** MSTR last year more than doubled its bitcoin holdings via combination of debt and equity deals

** On Tues, co disclosed it held approx 478,740 bitcoins bought at avg price of $65,033, as of Feb 17

** With BTC currently trading around $97,500, MSTR’s bitcoin stash valued at ~$46.7 bln

** MSTR shares have market cap of ~$83.5 bln, based on premarket levels

** Through Weds close, stock up 10% YTD vs 5% gain in Nasdaq 100 NDX. MSTR shares have more than quadrupled over the past year



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