Company: MSTR
Filing Date: 2025-04-07
Form Type: 8-K
Source: 0001193125-25-073989
Chunk: 16

Company: Strategy Inc
Filing Date: 2025-04-07
Form: 8-K
Item: Item 8.01
Chunk 16
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2028 Convertible Notes       $                     1,010,000      $                   (10,413        999,587      1,846,987      Level 2  
  2029 Convertible Notes                             3,000,000                          (23,145      2,976,855      2,426,196      Level 2  
  2030A Convertible Notes                              800,000                          (13,848        786,152      1,637,518      Level 2  
  2030B Convertible Notes                            2,000,000                          (14,635      1,985,365      1,909,206      Level 2  
  2031 Convertible Notes                               603,750                           (8,663        595,087        854,306      Level 2  
  2032 Convertible Notes                               800,000                          (11,916        788,084      1,292,139      Level 2  
  Total                        $                     8,213,750      $                   (82,620      8,131,130      9,966,352               

The fair value of the Convertible Notes is determined using observable market data other than quoted prices, specifically the last traded price at the end of the reporting period of identical instruments in the over-the-countermarket (Level 2).

For the three months ended March 31, 2025, the Company incurred $8.65 million in interest expense and paid $8.22 million in interest related to the Convertible Notes. The Company has not paid any additional interest or special interest related to the Convertible Notes to date.

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-bitcoinassets 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 $9.6 million and an outstanding principal balance of $9.7 million as of March 31, 2025.

Maturities

The following table shows the maturities of the Company’s debt instruments as of March 31