MicroStrategy announced Friday it raised $650 million, up from a recently boosted $550 million, in a convertible senior note sale designed to allow the business intelligence company to buy more bitcoin.
The company estimates $634.9 million of that sum – the net proceeds – will be available for bitcoin allocations in accordance with its treasury reserve policy.
The amount of the offering was boosted to $650 million from the $550 million announced on Wednesday after the purchaser of the notes exercised in full an option to buy up to an added $100 million of the convertible senior notes.
This story will be updated