All articles tagged with #convertible notes
Originally Published 4 months ago — by TipRanks
Alibaba's stock (BABA) declined following a $3.2 billion convertible notes offering, which raised concerns among investors about the company's financial strategy and impact on stock value.
Originally Published 7 months ago — by Business Wire
GameStop announced the pricing of a $2.25 billion private offering of convertible senior notes due 2032, with an option to increase the offering by $450 million. The proceeds are intended for general corporate purposes, including investments and acquisitions. The notes are unsecured, do not bear interest, and can be converted into GameStop stock under certain conditions. The offering is expected to close on June 17, 2025.
Originally Published 7 months ago — by Barchart.com
GameStop's stock plummeted over 22% after announcing a $1.75 billion convertible notes offering, likely to buy Bitcoin, but the move has raised concerns about timing and strategy. The stock has fallen 40% from its recent high, and analysts recommend against buying due to lack of clear strategy and weak fundamentals, with one analyst setting a target of $13.50, indicating further downside.
Originally Published 1 year ago — by Yahoo Finance
MicroStrategy's stock has surged 490% this year, driven by co-founder Michael Saylor's aggressive Bitcoin acquisition strategy, which has attracted significant hedge fund interest. The company's $6 billion in convertible notes, used to finance its cryptocurrency holdings, have become popular for market-neutral arbitrage strategies. Hedge funds like Calamos Advisors are capitalizing on MicroStrategy's high volatility, with daily stock movements averaging 5.2%. However, some critics warn of potential risks if the strategy fails.
Originally Published 1 year ago — by Benzinga
MicroStrategy, led by Michael Saylor, successfully completed a $3 billion offering of 0% convertible senior notes due 2029, which attracted investors despite offering no interest. The notes allow investors to convert them into equity at a premium, providing potential upside. The funds raised were used to purchase 55,500 Bitcoin, aligning with MicroStrategy's strategy of increasing Bitcoin holdings. Analysts see this approach as sustainable under favorable conditions, with potential for significant growth in Bitcoin holdings. MicroStrategy's stock has shown strong performance, significantly outperforming the Nasdaq 100 Index in 2024.
Originally Published 1 year ago — by Benzinga
MicroStrategy's stock rose over 8% in pre-market trading as Bitcoin neared $98,000. The company announced an increase in its convertible senior notes offering to $2.6 billion, with proceeds intended for further Bitcoin acquisition and general purposes. This move aligns with MicroStrategy's strategic pivot towards Bitcoin since 2020, which has significantly boosted its market capitalization.
Originally Published 1 year ago — by TipRanks
Microstrategy (NASDAQ:MSTR) announced an upsized offering of $2.6 billion in 0% convertible senior notes due 2029, with an option to increase to $3 billion, to fund further Bitcoin purchases. The company, which has been heavily investing in Bitcoin since 2020, now holds 331,200 tokens. This move aligns with investor hopes for a more crypto-friendly U.S. administration under President-elect Donald Trump. MSTR stock rose 10.93% following the announcement, reflecting its strong correlation with Bitcoin's recent rally to $94,000. Analysts rate MSTR as a Strong Buy, despite potential downside risks.
Originally Published 1 year ago — by Decrypt
MicroStrategy has increased its convertible notes offering from $1.75 billion to $2.6 billion due to high demand, aiming to purchase more Bitcoin. The zero-interest notes, maturing in 2029, are available to institutional buyers and can be redeemed for cash or stock. This move aligns with MicroStrategy's strategy to maximize shareholder value by investing heavily in Bitcoin, positioning itself as a major Bitcoin treasury company.
Originally Published 1 year ago — by Decrypt
MicroStrategy plans to raise $1.75 billion through convertible notes to expand its Bitcoin holdings, aiming to acquire up to 19,000 additional BTC. The company, led by Michael Saylor, recently purchased $4.6 billion worth of Bitcoin, bringing its total to 331,200 BTC, now valued at over $30 billion. The notes, maturing in 2029, will be offered to institutional buyers and can be converted into cash or stock. MicroStrategy's aggressive Bitcoin strategy has significantly boosted its market capitalization and stock value.
Originally Published 1 year ago — by Yahoo Finance
MicroStrategy Inc. is selling $500 million in convertible notes to buy more Bitcoin, marking its second note sale in less than two weeks. The company, which has already spent over $1 billion on Bitcoin this year, plans to offer initial purchasers an option to buy up to an additional $75 million. The move comes as Bitcoin has surged to record highs, with MicroStrategy holding more than $14 billion worth of the cryptocurrency. This follows a similar move by Coinbase Global Inc., which announced plans to offer $1 billion in convertible senior notes.
Originally Published 1 year ago — by Decrypt
Coinbase plans to raise $1 billion through a private offering of convertible senior notes, causing its stock to rise by 3%. The notes, maturing in 2030, can be converted into cash or shares of Coinbase’s Class A common stock. This move follows the footsteps of MicroStrategy, which recently offered $600 million worth of convertible senior notes to purchase more Bitcoin. Coinbase, as America’s largest digital asset exchange, is also serving as the custodian and surveillance sharing partner for major fund managers launching spot Bitcoin exchange-traded products, which have seen significant success with over $60 billion in assets under management.
Originally Published 1 year ago — by Yahoo Finance
Coinbase, a leading US-based cryptocurrency exchange, plans to raise $1 billion through senior convertible notes, targeting institutional investors, to repay existing debt and for general business purposes. The offering comes as Coinbase stock enjoys a two-year high and follows a similar strategy by MicroStrategy, a major Bitcoin investor. The move allows Coinbase to raise capital while delaying stock dilution and reflects the broader cryptocurrency market rally despite a slight dip in stock price following the announcement.
Originally Published 2 years ago — by Yahoo Finance
Nikola Corp shares plummeted after the electric vehicle manufacturer announced plans to issue $100 million in new shares and $200 million in convertible senior notes. The funds will be used for working capital, general corporate purposes, and projects aligned with the Green Bond Principle. The company has faced numerous setbacks, including managerial turmoil, issues with its all-electric trucks, and job cuts. Nikola's stock has fallen 55% this year, and the recent announcement further contributed to the decline.
Originally Published 2 years ago — by MarketWatch
Nikola Corp's stock dropped over 16% after the electric vehicle company announced plans to raise $100 million through a stock offering and $200 million through convertible notes. The proceeds will be used for working capital, general corporate purposes, and financing or investing in its projects.
Originally Published 2 years ago — by Seeking Alpha
Nikola Corporation, the zero-emission transportation start-up, has continued to dilute its shares by aggressively selling new shares and issuing convertible notes to raise capital. The company's outstanding shares have increased from 779.5 million to 985.2 million within a month, with the majority of the surge caused by the conversion of convertible notes. Nikola has also announced a recall of over 200 of its battery electric trucks due to safety concerns, which is expected to result in significant expenses. The company's stock price is likely to remain under pressure due to ongoing dilution and the potential for another guidance revision. Investors are advised to consider selling existing positions.