MicroStrategy has augmented its recent convertible note offering by an additional $200 million, raising the total from the initial $500 million plan. Initial buyers were also given an option to acquire an extra $100 million of the notes.

The Nasdaq-listed software behemoth, MicroStrategy (MSTR), recognized as the largest corporate bitcoin (BTC) holder, elevated its convertible note offering by 40%, reaching a sum of $700 million. The offering is priced to yield a 2.25% annual return. These notes, intended for institutional investors via a private placement, are unsecured senior obligations slated to mature in June 2032, as detailed in a press release from Friday. Additionally, the company, headquartered in Tysons Corner, Virginia, granted early purchasers a 13-day window to buy an extra $100 million of notes. The closure of this offering is anticipated for Monday, with proceeds earmarked for further bitcoin acquisitions and general corporate purposes.

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MicroStrategy’s stock experienced an uptick of nearly 2% in early trading on Friday, settling just above $1,500 after a sharp 7.5% decline the previous day. Earlier in the day, brokerage Bernstein initiated coverage of MicroStrategy, assigning an outperform rating and a price target of $2,890.

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Since 2020, MicroStrategy has been actively accumulating bitcoin as part of its treasury strategy. The company now boasts a holding of 214,400 BTC, valued at approximately $14 billion, solidifying its position as the largest publicly traded bitcoin holder.