Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 0

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 0
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As Filed Pursuant to Rule 424(b)(5)
Registration No. 333-284510 PROSPECTUS SUPPLEMENT (To Prospectus Dated January 27, 2025) Up to $2,100,000,000 of 10.00% Series A Perpetual Strife Preferred Stock We have entered into a Sales Agreement (the “Sales Agreement”) with TD Securities (USA) LLC, Barclays Capital Inc., and The Benchmark Company, LLC (collectively, the “Agents”), dated May 22, 2025, relating to the sale of shares of our 10.00% Series A Perpetual Strife Preferred Stock, which we refer to as our “perpetual strife preferred stock,” offered by this prospectus supplement. In accordance with the terms of the Sales Agreement, under this prospectus supplement, we may offer and sell shares of our perpetual strife preferred stock having an aggregate offering price of up to $2,100,000,000 from time to time through one or more of the Agents, acting as our sales agents. Our perpetual strife preferred stock is listed on The Nasdaq Global Select Market under the trading symbol “STRF.” On May 21, 2025, the last reported sale price of our perpetual strife preferred stock as reported on The Nasdaq Global Select Market was $100.65 per share. Sales of our perpetual strife preferred stock, if any, under this prospectus supplement may be made by any method that is deemed an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended (the “Securities Act”), or any other method permitted by law, which may include negotiated transactions or block trades. Our perpetual strife preferred stock will be offered and sold through the Agents over a period of time and from time to time. None of the Agents are required to sell any specific amount, but each will act as our sales agent using commercially reasonable efforts, consistent with its normal trading and sales practices, on mutually agreed terms between the Agents and us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement. The compensation to the Agents for sales of perpetual strife preferred stock sold pursuant to the Sales Agreement will be up to 2.0% of the gross proceeds of any shares of perpetual strife preferred stock sold under the Sales Agreement. In connection with the sale of the perpetual strife preferred stock on our behalf, the selling Agents may be deemed to be “under