Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 10

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 10
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 by reference to the more detailed information appearing elsewhere in this prospectus supplement and the accompanying prospectus. Certain of the terms of the perpetual strife preferred stock described below are subject to important limitations and exceptions that are described in more detail under the caption “Description of Perpetual Strife Preferred Stock.” As used in this section, (i) “we,” “our” and “us” refer to MicroStrategy Incorporated d/b/a Strategy and not to its subsidiaries; and (ii) “preferred stockholder” refers to a registered holder of the perpetual strife preferred stock.

| Issuer | MicroStrategy Incorporated d/b/a Strategy. |

| Securities Offered | Shares of our 10.00% Series A Perpetual Strife Preferred Stock, which we refer to as the “perpetual strife preferred stock,” having an aggregate offering price of up to $2,100,000,000. |

| 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 S-57 of this prospectus supplement. |

| 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. See “Use of Proceeds” on page S-25 of this 
 prospectus supplement.                                                                                                                                                                         |

| Bitcoin is a highly volatile asset that has traded below $50,000 per bitcoin and above $105,000 per bitcoin in our principal market in the 12 months preceding the date of this prospectus supplement. 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 perpetual strife preferred stock. |

| Liquidation Preference | Initially $100 per share of perpetual strife preferred stock. The liquidation preference is subject to adjustment in the manner described in this prospectus supplement. However, the liquidation preference will not be adjusted to an amount that 
 is less than $100 per share of perpetual strife preferred stock.                                                                                                                                                                                    |

| Regular Record Dates | March 15, June 15, September 15 and December 15. For the avoidance