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\n\t\t\t\t\t\t\t\t\tStrategy said it may fund the transactions using cash reserves, share sales, and possibly Bitcoin sales.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Business intelligence software giant, Strategy, announced that it has entered into privately negotiated agreements with certain holders of its outstanding 0% Convertible Senior Notes due 2029 to repurchase approximately $1.5 billion in aggregate principal amount of the notes.<\/p>\n
The company said the estimated aggregate cash repurchase price is around $1.38 billion, although the final amount remains subject to adjustment based partly on the daily volume-weighted average price of Strategy\u2019s Class A common stock during an agreed measurement period.<\/p>\n
According to the official document released<\/a> by the Michael Saylor-founded company, the actual cash amount paid could change depending on movements in the stock price during that period.<\/p>\n Strategy said it plans to fund the repurchases using available cash reserves, proceeds from sales of securities under its at-the-market offering program, and potentially proceeds from Bitcoin (BTC) sales.<\/p>\n The transactions are expected to settle on or around May 19th, subject to customary closing conditions.<\/p>\n Following completion of the repurchases, Strategy also revealed that it intends to cancel the repurchased notes. After the cancellation, around $1.5 billion aggregate principal amount of the 2029 convertible notes will remain outstanding.<\/p>\n The latest development comes days after Strategy reported<\/a> a $12.5 billion first-quarter loss tied largely to Bitcoin\u2019s price decline. Earlier this week, the company purchased<\/a> another 535 BTC for $43 million. Its total holdings now stand at 818,869 BTC acquired for nearly $62 billion.<\/p>\nYou may also like:<\/h3>\n