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ToggleMicrostrategy Increases Convertible Note Offering Size
According to a previous report by Zombit, Microstrategy announced on November 18 a private offering of $1.75 billion in convertible senior notes with a 0% coupon rate. However, the company further issued a new announcement last night, increasing the total amount of convertible senior notes to be issued from $1.75 billion to $2.6 billion, and stated that it will use the net proceeds from this offering to purchase additional Bit and for general corporate purposes.
It is important to note that these notes will not pay periodic interest, and the principal of the notes will not increase, but they can be converted into Class A common stock of Microstrategy under certain conditions, providing investors with the opportunity to participate in the company's stock price appreciation. In other words, if Microstrategy's stock price rises in the future, investors can obtain higher returns through the conversion right, rather than relying solely on fixed interest income.
After the announcement was released, Microstrategy's stock price opened with a surge, closing up 10% this morning at $473.
Bit Reaches $94,000
At the same time, Bit also reached $94,000 last night. According to Binance trading data, the historical high of Bit has been pushed up to $94,786. However, after reaching $94,000 last night, it plunged 1,500 points, although this is not a large amplitude for Bit, it has caused violent price fluctuations in the Altcoin market. In the past 24 hours, a total of 130,000 people have been liquidated, with a total liquidation amount of $349 million, mainly in long positions.
(This article is reprinted with permission from GT Radar)
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