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

Bitcoinsistemi
BTC-3,57%
EDEN5,03%
G-3,3%

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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