Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B2
Source: 0001193125-25-263653
Chunk: 0

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B2
Chunk 0
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As Filed Pursuant to Rule 424(b)(2)
Registration No. 333-284510 BASE PROSPECTUS SUPPLEMENT (To Prospectus Dated January 27, 2025) Class A Common Stock Preferred Stock We have entered into an Omnibus Sales Agreement (the “Sales Agreement”) with TD Securities (USA) LLC, Barclays Capital Inc., The Benchmark Company, LLC, BTIG, LLC, Canaccord Genuity LLC, Cantor Fitzgerald & Co., Clear Street LLC, Compass Point Research & Trading, LLC, H.C. Wainwright & Co., LLC, Keefe, Bruyette & Woods, Inc., Maxim Group LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, Santander US Capital Markets LLC, SG Americas Securities, LLC, and TCBI Securities Inc. doing business as Texas Capital Securities (each an “Agent” and, collectively, the “Agents”), dated November 4, 2025, relating to the sale of shares of our class A common stock, par value $0.001 per share, and shares of several series of our preferred stock, par value $0.001 per share. In accordance with the terms of the Sales Agreement, under this base prospectus supplement (the “base prospectus supplement”), we may offer and sell shares of our class A common stock and shares of the several series of our preferred stock (collectively, the “securities”) from time to time through one or more of the Agents, acting as our sales agents. Sales of the securities, if any, under this base prospectus supplement may be made at market prices by any method permitted by law that are 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. 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. There is no arrangement for funds to be received in an escrow, trust or similar arrangement. The specific terms of any securities that we offer under this base prospectus supplement and the specific terms of any such offering of securities are or will be included in an additional prospectus supplement that constitutes an annex to this base prospectus supplement with respect to the applicable securities being offered (each an “annex”).