Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 18

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 18
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 Market under the symbol “STRK.” On March 7, 2025, the last reported sale price of our perpetual strike preferred stock was $92.40 per share. |

| The Nasdaq Global Select Market Symbol for Our Class A Common Stock | Our class A common stock is listed on The Nasdaq Global Select Market under the symbol “MSTR.” On March 7, 2025, the last reported sale price of our class A common stock was $287.18 per share. |

| Risk Factors | Investing in the perpetual strike preferred stock involves risks. See “Risk Factors.” |

| Material U.S. Federal Income Tax Considerations | For a description of the material U.S. federal income tax consequences of purchasing, owning, converting and disposing of the perpetual strike preferred stock and owning and disposing of the shares of our class A common stock received in respect 
 of the perpetual strike preferred stock, see “Material United States Federal Income Tax Considerations.” In particular, holders should review the discussion under “Material United States Federal Income Tax                                         
 Considerations—Fast-Pay Stock Regulations” regarding the potentially adverse consequences that would apply if any shares of perpetual strike preferred stock were treated as “fast-pay” stock.                                                        |

S-14

| Book-Entry Form | We will initially issue the perpetual strike preferred stock in the form of one or more global certificates registered in the name of Cede & Co., as nominee of The Depository Trust Company (which we refer to as “DTC”), which                    
 we will deposit with the transfer agent as custodian for DTC. Beneficial interests in global certificates will be shown on, and transfers of perpetual strike preferred stock represented by global certificates will be effected only through, the 
 records maintained by DTC. Except in limited circumstances, we will not issue physical certificates representing any perpetual strike preferred stock. See “Description of Perpetual Strike Preferred Stock—Book Entry, Settlement and              
 Clearance.”                                                                                                                                                                                                                                         |

| Shares Outstanding After This Offering | Immediately after the consummation of this offering, up to 234,572,727 shares of perpetual strike preferred stock, assuming sales of $21,000,000,000 shares of our perpetual strike preferred stock in this offering at a price of $92.40 per share, 
 which was the last reported sale price of our perpetual strike preferred stock on The Nasdaq Global Select Market on March 7, 2025, and 240,778,923 shares of our class A common stock will be outstanding. The actual