MicroStrategy (MSTR) said Thursday that it plans to offer $500 million in convertible senior notes due 2032, the proceeds of which will be used for additional purchases of Bitcoin (BTC) and other corporate purposes.

The offer is subject to market conditions and has no guaranteed date or terms.

“MicroStrategy also expects to grant the initial purchasers of the notes an option to purchase, during a 13-day period beginning on and including the date of initial issuance of the notes, up to an additional aggregate principal amount of $75 million of the notes,” the company said in a news release.

Beginning June 20, 2029, MicroStrategy may convert all or part of the notes into cash, subject to certain conditions. The private placement will be available to persons qualifying as institutional buyers under Rule 144A under the Securities Act of 1933.

MicroStrategy currently holds 214,400 BTC worth over $14 billion, making it the largest publicly traded Bitcoin holder.

MSTR shares fell 1.5% in pre-market trading.