MicroStrategy, a leading software technology firm, has successfully priced a $700 million debt offering to fund additional Bitcoin purchases. The company plans to allocate a portion of the proceeds to acquire more Bitcoin for its corporate treasury, further solidifying its position in the crypto market.

The debt offering, initially announced at $500 million, has been increased to a $700 million aggregate principal amount. The notes, which are unsecured senior obligations of MicroStrategy, will bear interest at a rate of 2.25% per annum and mature on June 15, 2032. The company has the option to redeem the notes for cash at a redemption price equal to 100% of the principal amount on or after June 20, 2029.

The net proceeds from the sale are estimated to be approximately $687.8 million after deducting initial purchasers' discounts, commissions, and estimated offering expenses. If the initial purchasers exercise their option to purchase additional notes in full, the total proceeds could reach around $786 million. MicroStrategy intends to use the net proceeds to acquire additional Bitcoin and for general corporate purposes.

This move follows the firm's previous announcement to raise $500 million through a similar offering. The expansion to $700 million underscores MicroStrategy's strategy to strengthen its BTC holdings and position in the crypto market.