Company: MSTR
Filing Date: 2025-03-21
Form Type: 8-K
Source: 0001193125-25-059786
Chunk: 0

Company: Strategy Inc
Filing Date: 2025-03-21
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On March 20, 2025, MicroStrategy®Incorporated d/b/a Strategy™(the “ Company”) entered into an underwriting agreement (the “ Underwriting Agreement”) with Morgan Stanley & Co. LLC, as lead manager and representative of the several underwriters (the “ Underwriters”), relating to the issuance and sale in an underwritten offering (the “ Offering”) of 8,500,000 shares (the “ Shares”) of the Company’s 10.00% Series A Perpetual Strife Preferred Stock, par value $0.001 per share (the “perpetual strife preferred stock”), at a public offering price of $85.00 per share. The issuance and sale of the perpetual strife preferred stock are scheduled to settle on March 25, 2025, subject to customary closing conditions. Certain terms of the perpetual strife preferred stock are described in more detail in the Company’s press release announcing the pricing of the Offering, which is filed herewith as Exhibit 99.1 and incorporated herein by reference.

The Company estimates that the net proceeds from the Offering will be approximately $711.2 million, after deducting underwriting discounts and commissions and the Company’s estimated offering expenses. The Company intends to use the net proceeds from the Offering for general corporate purposes, including the acquisition of bitcoin and for working capital.

The Underwriting Agreement contains customary representations, warranties, and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties, and termination provisions.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3ASR(RegistrationNo. 333-284510)on file with the Securities and Exchange Commission (the “ SEC”). The Offering will be made only by means of a prospectus supplement and an accompanying prospectus.