Company: MSTR
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000950170-25-021814
Chunk: 176

Company: Strategy Inc
Filing Date: 2025-02-18
Form: 10-K
Item: Item 16
Chunk 176
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uance Costs

        Value

        Amount

        Leveling

        2028 Secured Notes
         
        $
        500,000

        $
        (8,807
        )
         
        $
        491,193

        $
        485,070

        Level 2
       
       The fair value of the 2028 Secured Notes was determined using observable market data other than quoted prices, specifically the last traded price at the end of the reporting period of identical instruments in the over-the-counter market (Level 2).For the years ended December 31, 2024, 2023, and 2022, interest expense related to the 2028 Secured Notes was as follows (in thousands): 

        Year Ended December 31, 2024

        Year Ended December 31, 2023

        Year Ended December 31, 2022

        Contractual

        Amortization of

        Contractual

        Amortization of

        Contractual

        Amortization of

        Interest Expense

        Issuance Costs

        Total

        Interest Expense

        Issuance Costs

        Total

        Interest Expense

        Issuance Costs

        Total

        2028 Secured Notes
         
        $
        22,628

        $
        1,287

        $
        23,915

        $
        30,625

        $
        1,646

        $
        32,271

        $
        30,625

        $
        1,541

        $
        32,166

       The Company paid $23.9 million, $30.6 million, and $30.6 million, respectively, in interest related to the 2028 Secured Notes during the years ended December 31, 2024, 2023, and 2022.Secured Term LoanOn March 23, 2022, MacroStrategy, a wholly-owned subsidiary of the Company, entered into a Credit and Security Agreement (the “Credit and Security Agreement”) with Silvergate pursuant to which Silvergate issued the $205.0 million 2025 Secured Term Loan to MacroStrategy. On March 24, 2023, MacroStrategy and Silvergate entered into a Prepayment, Waiver and Payoff to Credit and Security Agreement, pursuant to which MacroStrategy voluntarily prepaid Silvergate approximately $161.0 million (the