Strategy to retire $1.5 billion in convertible notes at a discount, may sell bitcoin to fund buyback

<p>Strategy (NASDAQ: MSTR) plans to repurchase $1.5 billion worth of debt at a discount and listed bitcoin sales as a potential funding source. </p>

In the deal, Strategy would pay approximately $1.38 billion total, retiring the debt at roughly 92 cents on the dollar.

The notes were originally due in 2029. </p>

<p>The final cash repurchase price is subject to adjustment based on the volume-weighted average price of Strategy's Class A common stock during an agreed measurement period, meaning the actual outlay could shift before closing.</p>

<p>Strategy cited three potential funding sources for the buyback, including available cash reserves, proceeds from its at-the-market equity offering programs, and proceeds from the sale of bitcoin.</p>