Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263719
Chunk: 6

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 6
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 and prospectus. Certain of the terms of the STRC Stock described below are subject to important limitations and exceptions that are described in more detail under the caption “Description of STRC Stock.” As used in this section, (i) “we,” “our” and “us” refer to Strategy Inc and not to its subsidiaries; and (ii) “preferred stockholder” refers to a registered holder of the STRC Stock.

| Issuer | Strategy Inc |

| Securities Offered | Shares of our Variable Rate Series A Perpetual Stretch Preferred Stock, which we refer to as the “STRC Stock,” having an aggregate offering price of up to $4,200,000,000.00. |

| 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 SA-46 of this STRC Stock Annex. |

| 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, and may also use the net proceeds for the payment of cash dividends declared or expected to be 
 declared from time to time on shares of any dividend senior stock (as defined below) then outstanding. See “Use of Proceeds” on page SA-17 of this STRC Stock Annex.                                                                              |

| Bitcoin is a highly volatile asset that has traded below $70,000 per bitcoin and above $120,000 per bitcoin in our principal market in the 12 months preceding the date of this STRC Stock Annex. 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.                                                 |

| Stated Amount | $100 per share of STRC Stock. |

| Liquidation Preference | Initially $100 per share of STRC Stock. The liquidation preference is subject to adjustment in the manner described in this STRC Stock Annex. However, the liquidation preference will not be adjusted to an amount that is less than $100 per share 
 of STRC Stock.                                                                                                                                                                                                                                       |

| Regular Dividend Payment Dates | The last calendar day of each calendar month. |

| Regular Record Dates | With respect