Strategy to retire $1.5 billion of 2029 convertible notes in balance-sheet reset

MicroStrategy (MSTR) signed private buyback deals to retire about $1.5 billion of its 0% convertible senior notes due 2029, with an expected cash cost near $1.38 billion disclosed on a Form 8‑K after agreements with selected holders in May. The transaction reduces conversion dilution and funding risk, which supports the company’s balance sheet and could bolster market confidence in its crypto strategy and adoption.