Company: MSTR
Filing Date: 2025-01-03
Form Type: DEF 14A
Source: 0001140361-25-000231
Chunk: 152

Company: Strategy Inc
Filing Date: 2025-01-03
Form: DEF 14A
Chunk 152
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|-------:|:----|-----------------------------:|:----|----------------:|:----|-------:|
|                        |     |                  Contractual 
             Interest Expense |     | Amortization of 
  Issuance Costs |     |  Total |     |                  Contractual 
             Interest Expense |     | Amortization of 
  Issuance Costs |     |  Total |
| 2025 Secured Term Loan |     |                       $3,781 |     |             $31 |     | $3,812 |     |                       $9,006 |     |            $103 |     | $9,109 |

The Company paid a final $5.1 million in interest related to the 2025 Secured Term Loan during the first quarter of 2023, $1.1 million of which was included in the Payoff Amount. The Company paid $7.7 million in interest related to the 2025 Secured Term Loan during the year ended December 31, 2022. Other long-term secured debt In June 2022, the Company, through a wholly-owned subsidiary, entered into a secured term loan agreement in the amount of $11.1 million, bearing interest at an annual rate of 5.2%, and maturing in June 2027. The loan is secured by certain non-bitcoin assets of the Company that are not otherwise serving as collateral for any of the Company’s other indebtedness. After monthly payments made under the terms of the agreement, the loan had a net carrying value of $10.2 million and $10.6 million as of December 31, 2023 and 2022, respectively, and an outstanding principal balance of $10.3 million and $10.9 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, $0.5 million and $0.5 million of the respective net carrying values were short-term and presented in “Current portion of long-term debt, net” in the Consolidated Balance Sheets.

E-53

TABLE OF CONTENTS

Maturities The following table shows the maturities of the Company’s debt instruments as of December 31, 2023 (in thousands). The principal payments related to the 2028 Secured Notes are included in the table below based on the First Springing Maturity Date of September 15, 2025, as if the springing