Company: MSTR
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000950170-25-021814
Chunk: 466

Company: Strategy Inc
Filing Date: 2025-02-18
Form: 10-K
Item: Item 2
Chunk 466
---
 further below, although we do not anticipate needing to use our bitcoin to meet our obligations in the next twelve months, we believe our substantial bitcoin holdings can serve as a source of liquidity, if necessary. See “—Availability of Bitcoin for Liquidity” below.  

On October 30, 2024, we filed a prospectus for a new at-the-market equity offering program pursuant to which we may sell class A common stock having an aggregate offering price of up to $21 billion from time to time. As of December 31, 2024 and February 14, 2025, approximately $6.775 billion and $4.168 billion, respectively, of our class A common stock remained available for issuance and sale pursuant to the October 2024 Sales Agreement.  To the extent we make sales under the October 2024 Sales agreement, we can use the net proceeds from such sales for general corporate purposes, including the acquisition of bitcoin and for working capital.  See “—At-the-Market Equity Offerings” below.

Contractual and Other Obligations

Our material contractual obligations (explained in further detail in the Notes to the Consolidated Financial Statements, as referenced below) and cash requirements consist of:

•principal and interest payments related to our long-term debt (Note 8, Long-term Debt), which includes:

oprincipal due upon maturity of our long-term debt instruments in the aggregate of $7.272 billion;

o$3.2 million in coupon interest due each semi-annual period for the 2028 Convertible Notes;  

o$2.5 million in coupon interest due each semi-annual period for the 2030 Convertible Notes;  

o$2.6 million in coupon interest due each semi-annual period for the 2031 Convertible Notes; 

o$9.0 million in coupon interest due each semi-annual period for the 2032 Convertible Notes; and 

o$0.1 million due monthly in principal and interest related to our other long-term secured debt; 

•payments under various purchase agreements, primarily related to third-party cloud hosting services, third-party software supporting our products, marketing, and operations, and a new corporate aircraft (Note 9, Commitments and Contingencies);

•rent payments under noncancellable operating leases (Note 7, Leases);

•payments related to the Transition Tax (Note 9, Commitments and Contingencies); and

•ongoing personnel-related expenditures and vendor payments. 

In addition,