
Bitcoin hoarder Strategy shares up as $2 bln 0% convertible bond deal priced
** Shares of Strategy , co formerly known as MicroStrategy, up 1.5% at $323.40 premarket after securing capital raise to load up on more bitcoin** Tysons Corner, Virginia-based software firm announces pricing of $2 bln 0% 5-yr convertible bond offering** Initial conversion price of $433.43 represents 35% premium to the VWAP of MSTR shares from 1:30 p.m. ET through market close on Feb 19** Co plans to use net offering proceeds for general purposes, including acquisition of bitcoin and working capital** Earlier this month, co reported a fourth consecutive quarterly loss and booked $1 bln impairment charge on its stockpile of the world's largest cryptocurrency** MSTR last year more than doubled its bitcoin holdings via combination of debt and equity deals** On Tues, co disclosed it held approx 478,740 bitcoins bought at avg price of $65,033, as of Feb 17** With BTC currently trading around $97,500, MSTR's bitcoin stash valued at ~$46.7 bln** MSTR shares have market cap of ~$83.5 bln, based on premarket levels** Through Weds close, stock up 10% YTD vs 5% gain in Nasdaq 100 . MSTR shares have more than quadrupled over the past year