Company: MSTR
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0001193125-25-032800
Chunk: 2

Company: Strategy Inc
Filing Date: 2025-02-24
Form: 8-K
Item: Item 1.01
Chunk 2
---
 immediately before the date the Company sends such redemption notice. However, the Company may not redeem less than all of the outstanding notes unless at least $75.0 million aggregate principal amount of the notes are outstanding and not called for redemption as of the time the Company sends the related redemption notice. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid special interest and additional interest, if any, to, but excluding, the redemption date. In addition, calling any note for redemption will constitute a Make-Whole Fundamental Change with respect to that note, in which case the conversion rate applicable to the conversion of that note will be increased in certain circumstances if it is converted after it is called for redemption.

If certain corporate events that constitute a “ Fundamental Change” (as defined in the Indenture) occur, then, subject to a limited exception for certain cash mergers, noteholders may require the Company to repurchase their notes at a cash repurchase price equal to the principal amount of the notes to be repurchased, plus accrued and unpaid special interest and additional interest, if any, to, but excluding, the fundamental change repurchase date. The definition of Fundamental Change includes certain business combination transactions involving the Company and certain de-listingevents with respect to the Company’s class A common stock.

Noteholders may require the Company to repurchase their notes on March 1, 2028, at a cash repurchase price equal to the principal amount of the notes to be repurchased, plus accrued and unpaid special interest and additional interest, if any, to, but excluding, the repurchase date.

The notes have customary provisions relating to the occurrence of “ Events of Default” (as defined in the Indenture), which include the following: (i) certain payment defaults on the notes (which, in the case of a default in the payment of special interest or additional interest, if any, on the notes, will be subject to a30-daycure period); (ii) the Company’s failure to send certain notices under the Indenture within specified periods of time; (iii) the Company’s failure to comply with certain covenants in the Indenture relating to the Company’s ability to consolidate with or merge with or into, or sell, lease or otherwise transfer, in one transaction or a series of transactions, all or substantially all of the assets of the Company and its subsidiaries, taken as a whole, to another person; (iv) the Company’s failure to convert