MSTR convertible bond issuance and specifics
| Issuance Date |
Bond Size |
Coupon Rate |
Conversion Price (Adjusted) |
Conversion Premium |
Maturity Date |
| Dec 2020 |
$650M |
0.75% |
Not specified |
Not specified |
Dec 15, 2025 |
| Feb 2021 |
$1.05B |
0% |
Not specified |
Not specified |
Feb 15, 2027 |
| Sep 19, 2024 |
$1.01B |
0.625% |
~$18.32 |
~40% over VWAP |
Mar 15, 2028 |
| Mar 8, 2024 |
$800M |
0.625% |
~$149.77 |
~42.5% over $105.10 |
Mar 15, 2030 |
| Nov 20, 2024 |
$2.6B |
0% |
~$672.40 |
~55% over $433.80 |
Dec 1, 2029 |
Key Notes:
- Pre-Split Bonds (Dec 2020 and Feb 2021): Conversion prices not provided in the available data; they would require adjustment for the split if disclosed.
- Conversion prices are adjusted because of 10-for-1 stock split occurred on August 8, 2024
- Post-Split Bonds (Nov 2024): The stated conversion price of $672.40 is already adjusted for the split and does not need further changes.
Convertible bond masterclass with Richard Byworth
https://youtu.be/8U1JqBQ82b4?si=whXmdQQO_pUL3i3G