MicroStrategy, one of the world’s largest public holders of Bitcoin (BTC), has completed another convertible notes offering to acquire more BTC.

On June 20, MicroStrategy officially announced that the company completed its previously announced offering of 2.25% convertible senior notes due 2032.

The aggregate principal amount of the notes sold in the offering was $800 million, including $100 million of notes issued pursuant to an option to purchase. The announcement notes that the initial purchasers exercised the purchase agreement in full on June 17, with another additional purchase occurring on June 18.

The net proceeds from the sale of the notes were approximately $786.0 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by MicroStrategy.

MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin and for general corporate purposes.

In a separate announcement, MicroStrategy reported that it acquired an additional 11,931 Bitcoin for $786 million using proceeds from convertible notes and excess cash at the price of $65,883 per BTC. As of June 20, MicroStrategy holds a total of 226,331 BTC acquired for roughly $8.33 billion at the average price of $36,798 per BTC.

This is a developing story, and further information will be added as it becomes available.