Strategy has announced a plan to repurchase $1.5 billion in principal amount of its 0% convertible senior notes due 2029 through private negotiations. The repurchase will be executed at an approximate cash price of $1.38 billion. The company intends to fund this transaction using its cash reserves, proceeds from its ATM offering program, and/or Bitcoin sales.
The transaction is set to close on May 19, after which the repurchased notes will be retired. This move will leave approximately $1.5 billion in outstanding 2029 notes, effectively reducing the company's debt obligations.
Strategy to Repurchase $1.5 Billion in Convertible Notes for $1.38 Billion
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