Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 12

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 12
---
 Stock, which we refer to as the “perpetual strike preferred stock,” having an aggregate offering price of up to $21,000,000,000. |

| Manner of Offering | “At the market” offering that may be made from time to time through the Agents. See “Plan of Distribution” beginning on page S-79 of this prospectus supplement. |

| Use of Proceeds | We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin 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. See “Use of Proceeds” on page S-30 of           
 this prospectus supplement.                                                                                                                                                                                                                               |

| Liquidation Preference | $100 per share of perpetual strike preferred stock. |

| Regular Record Dates | March 15, June 15, September 15 and December 15. For the avoidance of doubt, a holder of any shares of perpetual strike preferred stock that are issued in this offering after 5:00 p.m., New York City time, on a regular record 
 date relating to a declared regular dividend on the perpetual strike preferred stock will not be entitled to receive such regular dividend with respect to such shares.                                                           |

| Regular Dividends | The perpetual strike preferred stock accumulates cumulative dividends, which we refer to as “regular dividends,” at a rate per annum equal to 
 8.00% on the liquidation preference thereof,                                                                                                  |

S-9

| regardless of whether or not declared or funds are legally available for their payment. Subject to the other provisions described in this prospectus supplement, regular dividends are payable                                                         
 when, as and if declared by our board of directors, out of funds legally available for their payment to the extent paid in cash, quarterly in arrears on each regular dividend payment date to the preferred stockholders of record as of the close of 
 business on the regular record date immediately preceding the applicable