Company: MSTR
Filing Date: 2025-07-07
Form Type: 8-K
Source: 0000950170-25-094137
Chunk: 2

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 8-K
Item: Item 8.01
Chunk 2
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 respect to its bitcoin holdings:

  During Period June 30, 2025 to July 6, 2025                                        As of July 6, 2025                                                            
  BTC                                              Aggregate          Average        Aggregate                            Aggregate                     Average    
  Acquired (1)                                     Purchase           Purchase       BTC                                  Purchase                      Purchase   
                                                   Price (in          Price (2)      Holdings                             Price (in                     Price (2)  
                                                   millions) (2)                                                          billions) (2)                            
                                                   $                  $                                      597,325      $                  42.40      $          
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

(1)

The bitcoin purchases were made using proceeds from the STRK ATM and STRF ATM.

(2)

Aggregate and average purchase prices are inclusive of fees and expenses.

II.

Q2 2025 Financial Updates

Financial Update Highlights

During the quarter ended June 30, 2025, the Company achieved an unrealized gain on digital assets of $14.05 billion, and as a result also incurred an associated deferred tax expense of $4.04 billion. As of June 30, 2025, the Company’s digital asset carrying value was $64.36 billion, with a related deferred tax liability of $6.31 billion.

Capital Markets Update

During the quarter ended June 30, 2025, the Company received aggregate net proceeds of $6.8 billion from the following transactions:

• STRF ATM:
On May 22, 2025, the Company entered into a sales agreement pursuant to which the Company may issue and sell shares of 10.00% series A perpetual strife preferred stock, $0.001 par value per share (“
STRF Stock
”), having an aggregate offering price of up to $2.1 billion, from time to time through the sales agents under the sales agreement for this program (the “
STRF ATM
”). During the period from the establishment of the STRF ATM through June 30, 2025, the Company received aggregate net proceeds from this program of approximately $163.1 million, after deducting sales commissions.

• STRK ATM:
On March 10, 2025, the Company entered into a sales agreement pursuant to which the Company may issue and sell shares of 8.00% series A perpetual strike preferred stock, $0.001 par value per share (“
STRK Stock
”), having an aggregate offering