According to BlockBeats, Strategy announced on May 15 a private negotiated transaction to repurchase approximately $1.5 billion in principal of 2029 zero-coupon convertible preferred notes at an estimated cash repurchase price of $1.38 billion.
The company will fund the buyback from existing cash reserves, proceeds from its ATM offering program, and/or bitcoin sales. The transaction is expected to close around May 19, 2026, after which the repurchased notes will be retired. Following completion, Strategy will have approximately $1.5 billion in principal of 2029 convertible debt remaining outstanding.
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