Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 1

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 1
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writers” within the meaning of the Securities Act and the compensation of the Agents may be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to the Agents with respect to certain liabilities, including civil liabilities under the Securities Act or Securities Exchange Act of 1934, as amended (the “Exchange Act”). PERPETUAL STRIFE PREFERRED STOCK The up to $2,100,000,000 of shares of perpetual strife preferred stock that we may offer and sell under this prospectus supplement and the accompanying prospectus constitutes a further issuance of shares of perpetual strife preferred stock in addition to the 8,500,000 shares of perpetual strife preferred stock outstanding as of the date of this prospectus supplement. Other than the issue date, and in the case of perpetual strife preferred stock issued after June 15, 2025, the first regular dividend date, perpetual strife preferred stock that we may offer and sell under this prospectus supplement and the accompanying prospectus will have terms identical to, will have the same CUSIP number as, and will vote together with, the perpetual strife preferred stock outstanding as of the date of this prospectus supplement immediately upon issuance. The perpetual strife preferred stock has an initial liquidation preference of $100 per share. The liquidation preference is subject to adjustment in the manner described in this prospectus supplement. However, the liquidation preference will not be adjusted to an amount that is less than $100 per share. The perpetual strife preferred stock accumulates cumulative dividends, which we refer to as “regular dividends,” at a rate per annum equal to 10.00% on the stated amount thereof, which is $100 per share of perpetual strife preferred stock. Regular dividends on the perpetual strife preferred stock are payable when, as and if declared by our board of directors or any duly authorized committee thereof, out of funds legally available for their payment to the extent paid in cash, quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, beginning on June 30, 2025. Declared regular dividends on the perpetual strife preferred stock are payable solely in cash in the manner, and subject to the provisions, described in this prospectus supplement. We have the right, at our election, to redeem all, and not less than all, of the perpetual strife preferred stock, at any time, for cash if the total number of shares of all perpetual strife preferred stock then outstanding is less than 25% of the total