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MicroStrategy Stock Moves Lower On Proposed Offering To Buy More Bitcoin

MicroStrategy Inc (NYSE:MSTR) shares are trading lower in Wednesday’s after-hours session after the company announced a proposed private offering. What Happened: After the market close on Wednesday, MicroStrategy announced that it intends to offer $500 million worth of convertible senior notes due 2031 in a private offering to institutional buyers. The company also plans to grant the initial purchasers of the notes a 13-day window to purchase up to an additional $75 million of the notes. MicroStrategy said it intends to use the net proceeds from the sale to acquire additional Bitcoin (CRYPTO: …

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