Company: MSTR
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001193125-25-109950
Chunk: 17

Company: Strategy Inc
Filing Date: 2025-05-01
Form: 424B5
Chunk 17
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 The remaining assets, if any, would then be allocated among the holders of our equity securities in
accordance with their respective liquidation rights.

Our outstanding classes of preferred stock are, and any new class or series of
preferred stock that we may issue in the future will be, senior to our class A common stock with respect to payments upon liquidation, dissolution or winding up. If any assets remain after payment in full of the liquidation preference of the
preferred stock, those remaining assets will be distributed to holders of our common stock. There may be insufficient remaining assets available to pay the liquidation preference on our preferred stock, in which case holders of our class A common
stock would not receive any value for their shares.

S-13

USE OF PROCEEDS

From time to time, we may issue and sell shares of our class A common stock having aggregate sales proceeds of up to $21,000,000,000. Because
there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time.

We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin, paying cash
dividends on our outstanding preferred stock, and for working capital.

Bitcoin is a highly volatile asset that has traded below $50,000
per bitcoin and above $105,000 per bitcoin in our principal market in the 12 months preceding the date of this prospectus supplement. Bitcoin does not pay interest or other returns and so our ability to generate cash from our bitcoin holdings
depends on sales. Future fluctuations in bitcoin trading prices may result in our converting bitcoin purchased with the net proceeds from this offering into cash with a value substantially below the net proceeds from this offering, and there can be
no assurance as to whether or when we will realize any cash proceeds from our contemplated acquisition of bitcoin.

We have not determined
the amount of net proceeds to be used specifically for any of these purposes. As a result, our management will have broad discretion in the application of the net proceeds from this offering and you will not have the opportunity as part of your
investment decision to assess whether the net proceeds are being used in a manner of which you approve.

S-14

DIVIDEND POLICY

We have never declared or paid cash dividends on our class A common stock or class B common stock. We currently intend to use available cash
to purchase additional bitcoin, meet our