Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 117

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 117
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Agreement, we will notify an Agent of the number of shares to be issued, the dates on which such sales are anticipated to be made, any limitation on the number of shares to be sold in any one day and any minimum price below which sales may not be
made. Once we have so instructed an Agent, unless such Agent declines to accept the terms of such notice, such Agent has agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such shares up
to the amount specified on such terms. The obligations of an Agent under the Sales Agreement to sell our shares of perpetual strike preferred stock are subject to a number of conditions that we must meet. We will only sell shares through one Selling
Agent on any single day. Sales pursuant to the Sales Agreement may be made through an affiliate of an Agent.

The settlement of sales of shares between us
and any Selling Agent is generally anticipated to occur on the trading day following the date on which the sale was made. Sales of our shares of perpetual strike preferred stock as contemplated in this prospectus supplement will be settled through
the facilities of The Depository Trust Company or by such other means as we and the Selling Agent may agree upon. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

We will pay each Agent a commission of up to 2.0% of the aggregate gross proceeds we receive from each sale of our shares of perpetual strike preferred stock
made by such Agent or its affiliated selling Agent. Because there is no minimum offering amount required as a condition to effect this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at
this time. In addition, we have agreed to reimburse the Agents for the fees and disbursements of the Agents’ counsel, payable upon execution of the Sales Agreement, in an amount not to exceed $75,000, in addition to certain ongoing
disbursements of their legal counsel. We estimate that the total expenses for the offering, excluding any commissions or expense reimbursement payable to the Agents under the terms of the Sales Agreement, will be approximately $25 million. The
remaining sale proceeds, after deducting any other transaction fees, will equal our net proceeds from the sale of such shares.

A Selling Agent will
provide written confirmation to us before the open of The Nasdaq Global Select Market on the day following each day on which our shares of perpetual strike preferred stock are sold under the Sales Agreement. Each confirmation will