Big Company Reveals $500 Million Bitcoin (BTC) Plan!

2024-12-09 07:37:08

Abstract generation in progress

Another company announced that it will follow in the footsteps of MicroStrategy, which issued bonds to acquire more Bitcoin (BTC).

According to Riot Platforms, it announced that it will offer $500 million worth of convertible senior notes to buy Bitcoin and for institutional use.

Bitcoin mining company Riot Platforms announced in an official statement that it plans to issue $500 million convertible senior notes due in 2030.

Revenues will be used for Bitcoin purchases and general corporate expenses. An additional $75 million in bonds may be issued if initial buyers exercise their options. The bonds will be unsecured and convertible to cash, stock or a combination thereof at the terms determined in the pricing.

Riot plans to use the net proceeds from the bond offering to purchase additional Bitcoin and for general corporate purposes.

*Bonds will be offered and sold to persons believed to be qualified institutional buyers in accordance with Rule 144/A of the Securities Act.

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