MicroStrategy Seeks $400M Via Institutional Debt to Purchase Bitcoins; Takes $285M Bitcoin Impairment Charge Hit

MicroStrategy Inc MSTR plans to offer $400 million senior secured notes due 2028 in a private institutional offering.
The offering proceeds will be utilized to acquire additional bitcoins.
MicroStrategy purchased 20,857 bitcoins for $1.086 billion in Q1. It bought 253 bitcoins for $15 million in Q2.
The company will be taking a $284.5 million hit in the current quarter as an impairment charge based on the fluctuations in the market price of bitcoin during the second quarter of 2021.
Price action: MSTR shares traded lower by 3.17% at $469.33 during the market session on the last check Monday.

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