Strategy repurchased $1.5B worth of its 0% Convertible Senior Notes due 2029 for an estimated $1.38B in cash.
The 2029 Notes were the most problematic tranche in its convertible stack. Conversion price: $672. MSTR’s all-time high: $474. Nearly 4x away from today’s price. These notes were never converting to equity. They were always going
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