Form 8-K MICROSTRATEGY Inc For: Mar 24

Go back to Form 8-K MICROSTRATEGY Inc For: Mar 24

Microstrategy, Inc. (MSTR) acquired approximately 6,455 bitcoins for approximately $150 million in cash

March 27, 2023 8:06 AM EDT

Microstrategy, Inc. (NASDAQ: MSTR)

Voluntary Prepayment of Silvergate Loan

As previously disclosed, on March 23, 2022, MacroStrategy LLC (MacroStrategy), a wholly-owned subsidiary of MicroStrategy Incorporated (the Company or MicroStrategy), entered into a Credit and Security Agreement (the Credit Agreement) with Silvergate Bank (Silvergate) pursuant to which Silvergate issued a $205.0 million term loan (the Loan) to MacroStrategy. The Loan had a scheduled maturity date of March 23, 2025, and bore interest at a floating rate equal to the SOFR 30 Day Average as published by the Federal Reserve Bank of New Yorks website plus 3.70%, with a floor of 3.75%. As of March 24, 2023, the floating rate... More