MicroStrategy acquired 9,245 bitcoins from March 11 to March 18

In a regulatory filing earlier, MicroStrategy noted that on March 18 the company completed a private offering of convertible senior notes. The offering, which included a 0.875% coupon and an approximately 40% conversion premium over the U.S. composite volume weighted average price of MicroStrategy’s class A common stock from 9:30 am through 4:00 pm Eastern Daylight Time on March 14, was “well received in the marketplace and upsized” to a total of $603.75M in aggregate principal amount. This amount included the exercise by the initial purchasers of their option to purchase $78.75M of additional notes. Net proceeds from the offering to MicroStrategy totaled approximately $592.3M. On March 19, MicroStrategy announced that, during the period between March 11 and March 18, MicroStrategy acquired approximately 9,245 bitcoins for approximately $623.0M in cash, using $592.3M of proceeds from the offering and $30.7M of excess cash, at an average price of approximately $67,382 per bitcoin, inclusive of fees and expenses. As of March 18, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 214,246 bitcoins, which were acquired at an aggregate purchase price of approximately $7.53B and an average purchase price of approximately $35,160 per bitcoin, inclusive of fees and expenses, the company noted.