Company: MSTR
Filing Date: 2025-01-03
Form Type: DEF 14A
Source: 0001140361-25-000231
Chunk: 138

Company: Strategy Inc
Filing Date: 2025-01-03
Form: DEF 14A
Chunk 138
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 payments                    |     |  86,088 |
| Less: imputed interest                  |     | -14,539 |
| Total                                   |     | $71,549 |
| Reported as:                            |     |         |
| Current operating lease liabilities     |     | $10,463 |
| Non-current operating lease liabilities |     |  61,086 |
| Total                                   |     | $71,549 |

E-46

TABLE OF CONTENTS

(8) Long-term Debt The net carrying value of the Company’s long-term debt (in thousands) consisted of the following as of:

|                              |     | December 31, |     |            |
|                              |     |         2023 |     |       2022 |
| 2025 Convertible Notes       |     |     $643,931 |     |   $640,888 |
| 2027 Convertible Notes       |     |    1,037,306 |     |  1,033,277 |
| 2028 Secured Notes           |     |      491,193 |     |    489,547 |
| 2025 Secured Term Loan       |     |            0 |     |    204,688 |
| Other long-term secured debt |     |        9,678 |     |     10,160 |
| Total                        |     |   $2,182,108 |     | $2,378,560 |

Convertible Senior Notes In December 2020, the Company issued $650.0 million aggregate principal amount of 0.750% Convertible Senior Notes due 2025 (the “2025 Convertible Notes”) in a private offering. The 2025 Convertible Notes are senior unsecured obligations of the Company and bear interest at a fixed rate of 0.750% per annum, payable semiannually in arrears on June 15 and December 15 of each year, beginning on June 15, 2021. Holders of the 2025 Convertible Notes may receive additional interest under specified circumstances as outlined in the indenture relating to the issuance of the 2025 Convertible Notes (the “2025 Convertible Notes Indenture”). The 2025 Convertible Notes will mature on December 15, 2025, unless earlier converted, redeemed or repurchased in accordance with their terms. The total net proceeds from the 2025 Convertible Notes offering, after deducting initial purchaser discounts