Company: MSTR
Filing Date: 2025-07-07
Form Type: 8-K
Source: 0001193125-25-155918
Chunk: 3

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 8-K
Item: Item 8.01
Chunk 3
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Item 8.01.      Other Events.  

STRD ATM

On July 7, 2025, the Company entered into a Sales Agreement (the “ STRD Sales Agreement”) with TD Securities (USA) LLC (“ TD Cowen”), Barclays Capital Inc. (“ Barclays”), The Benchmark Company, LLC (“ Benchmark”), Clear Street LLC and Morgan Stanley & Co. LLC (“ Morgan Stanley”), as sales agents (each an “ STRD Agent” and collectively, the “ STRD Agents”), pursuant to which the Company may issue and sell shares of its 10.00% Series A Perpetual Stride Preferred Stock, $0.001 par value per share (the “ STRD Stock”), having an aggregate offering price of up to $4.2 billion (the “ STRD ATM Shares”), from time to time through the STRD Agents (the “ STRD ATM Offering”). Also, on July 7, 2025, the Company filed a prospectus supplement with the Securities and Exchange Commission in connection with the STRD ATM Offering (the “ STRD Prospectus Supplement”) under the Registration Statement, and the base prospectus contained therein.

Upon delivery of a placement notice, and subject to the terms and conditions of the STRD Sales Agreement, the STRD Agents may sell the STRD ATM Shares by any method that is deemed an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, or any other method permitted by law, which may include negotiated transactions or block trades. The Company may sell the STRD ATM Shares through the STRD Agents in amounts and at times to be determined by the Company from time to time subject to the terms and conditions of the STRD Sales Agreement, but neither it nor the STRD Agents have an obligation to sell any of the STRD ATM Shares in the STRD ATM Offering. No assurance can be given that the Company will sell any STRD ATM Shares under the STRD Sales Agreement, or, if it does, as to the price or amount of STRD ATM Shares that it sells or the dates when such sales will take place. The Company will only sell STRD ATM Shares through one STRD Agent on any single day. Sales pursuant to the STRD Sales Agreement may be made through an affiliate of an STRD Agent.

The Company or the STRD Agents may suspend or terminate the STRD ATM Offering upon notice to the other parties and subject to other conditions. Each STRD