The Bitcoin treasury firm will repurchase $1.5 billion of 0% convertible debt due in 2029 using cash and Bitcoin sales proceeds.
Strategy will repurchase $1.5 billion of its 0% convertible notes maturing in 2029, reducing its outstanding debt by approximately half. The company agreed to buy back the notes for an estimated $1.38 billion through privately negotiated transactions with noteholders, as disclosed in an SEC filing.
The notes, which carry no coupon but can convert into equity, were issued as part of the company’s broader debt management strategy. Strategy plans to fund the repurchase using available cash reserves, proceeds from securities sales under its at-the-market offering program, and potential Bitcoin sales.
The transaction is expected to settle early next week, though the final repurchase amount may vary based on market conditions. The move aligns with earlier statements from company leadership about equitizing debt in the coming years.