Strategy to Repurchase $1.5B Convertible Notes, May Fund Deal With Bitcoin Sales
Strategy disclosed in an 8-K filing that it has agreed to repurchase approximately $1.5 billion principal amount of its outstanding 0% Convertible Senior Notes due 2029 for an estimated $1.38 billion in cash through privately negotiated transactions. The company said funding may come from cash reserves, ATM equity sales, and/or Bitcoin sales.