Re: MSTR-The Tail Wagging The BTC Dog?

Update on Q1'22 results.

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