MicroStrategy $500 million senior secured notes offering
Davis Polk advised the initial purchaser in connection with a Rule 144A and Regulation S offering by MicroStrategy Incorporated of $500 million aggregate principal amount of its 6.125% senior secured notes due 2028. MicroStrategy intends to use the net proceeds from the offering to acquire bitcoin.
MicroStrategy is a global leader in enterprise analytics software and services. The MicroStrategy platform brings together data from its customers’ enterprise applications, such as their financial systems, human resources systems and supply chain and customer relationship management tools, to provide analytics for actionable insights. The company also offers its customers consulting and educational services to harness MicroStrategy’s innovative technology and empower their workforces to make better decisions.
The Davis Polk corporate team included partner Joseph A. Hall and associates Andrew Rowe and Despoina Arslanidi. The finance team included counsel Mayer J. Steinman and Erika D. White and associate Prudence Ng. The tax team included partner Lucy W. Farr and associate Yixuan Long. Counsel Charles Shi provided executive compensation advice. Members of the Davis Polk team are based in the New York and London offices.