Kaoboy Musings

Kaoboy Musings

Share this post

Kaoboy Musings
Kaoboy Musings
Re: MSTR-The Tail Wagging The BTC Dog?

Re: MSTR-The Tail Wagging The BTC Dog?

Update on Q1'22 results.

Michael Kao's avatar
Michael Kao
May 04, 2022
∙ Paid
3

Share this post

Kaoboy Musings
Kaoboy Musings
Re: MSTR-The Tail Wagging The BTC Dog?
2
Share

MSTR just reported Q1'22. Here’s an updated capital structure:

Debt:


Silvergate SOFR+3.7% due 3/23/25 -- $205 mm

Senior Secured 6.125% due 6/15/28 -- $500 mm

Convert 0.75% due 12/15/25 -- $650 mm

Convert 0% due 2/15/27 -- $1050 mm

TEV:

Total Debt -- $2405 mm
Mkt Cap -- $3880 mm (as of 5/3/22)

$6285 mm

Kaoboy Musings is a reader-supp…

Keep reading with a 7-day free trial

Subscribe to Kaoboy Musings to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Michael Kao
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share