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Strategy 8-K Report, Regulation FD Disclosure (Mar 17, 2025)

Reports
Regulation FD·Other Events
Filing Date
Filed March 17, 2025
Period End
March 17, 2025
In the record · 2016–202610-K1110-Q338-K265

MSTR filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 265 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’20Jul ’20
  2. Material agreement8-K · Sep ’22Sep ’22
  3. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed March 17, 2025. Cited figures are marked; the original filing is the authoritative source.

On March 17, 2025, MicroStrategy Incorporated d/b/a Strategy (the "Company") reported on its at-the-market (ATM) activity and bitcoin holdings for the period March 10 through March 16, 2025.

During that week the Company sold no shares of its class A common stock under its common stock ATM program. Under its preferred stock ATM, however, it sold 123,000 shares of its 8.00% series A perpetual strike preferred stock (STRK), generating approximately $10.7 milliona in net proceeds after sales commissions. As of March 16, 2025, approximately $20.99 billion of STRK shares remained available for issuance under that program, out of an aggregate offering price of up to $21 billion.

The Company used the STRK ATM proceeds to acquire approximately 130 bitcoins for approximately $10.7 millionb in cash, at an average price of approximately $82,981 per bitcoin, inclusive of fees and expenses. As of March 16, 2025, the Company, together with its subsidiaries, held approximately 499,226 bitcoins, acquired at an aggregate purchase price of approximately $33.1 billion and an average purchase price of approximately $66,360 per bitcoin, inclusive of fees and expenses.

The filing also references the Company's website dashboard (www.strategy.com), which it uses as a Regulation FD disclosure channel for market prices of its securities, bitcoin purchases and holdings, KPI metrics, and other supplemental information. The information furnished under Item 7.01 is not deemed filed for purposes of Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. No common stock (class A) was sold under the common stock ATM program between March 10 and March 16, 2025.
  2. Sold 123,000 shares of 8.00% series A perpetual strike preferred stock (STRK) under the STRK ATM for approximately $10.7 million in net proceeds (less sales commissions).
  3. Approximately $20.99 billion of STRK shares remained available for issuance under the STRK ATM as of March 16, 2025, against an aggregate offering price of up to $21 billion.
  4. Acquired approximately 130 bitcoins for approximately $10.7 million in cash at an average price of approximately $82,981 per bitcoin, funded with STRK ATM proceeds.
  5. Held approximately 499,226 bitcoins as of March 16, 2025, acquired at an aggregate purchase price of approximately $33.1 billion and an average purchase price of approximately $66,360 per bitcoin.
  6. Reaffirmed the strategy.com dashboard as a Regulation FD disclosure channel for securities prices, bitcoin holdings, KPI metrics, and supplemental information.

03—Questions

Frequently Asked Questions

  1. Did the Company issue any common stock under its ATM program during the week?

    No. The Company stated that between March 10 and March 16, 2025, it did not sell any shares of its class A common stock under its at-the-market offering program.

  2. How much preferred stock capacity remains under the STRK ATM program?

    As of March 16, 2025, approximately $20.99 billion of STRK shares remained available for issuance and sale under the STRK ATM, out of an aggregate offering price of up to $21 billion under the Sales Agreement entered into on March 10, 2025.

  3. How was the bitcoin acquired during the week funded?

    The Company stated that the approximately 130 bitcoins it acquired between March 10 and March 16, 2025, for approximately $10.7 million in cash were made using proceeds from the STRK ATM.

  4. What is the Company's total bitcoin holding and average cost basis?

    As of March 16, 2025, the Company, together with its subsidiaries, held approximately 499,226 bitcoins, acquired at an aggregate purchase price of approximately $33.1 billion, for an average purchase price of approximately $66,360 per bitcoin, inclusive of fees and expenses.

  5. Where does the Company disclose information such as bitcoin purchases and KPI metrics?

    The Company maintains a dashboard on its website at www.strategy.com, which it uses as a channel for broad, non-exclusionary distribution of information, including market prices of its outstanding securities, bitcoin purchases and holdings, certain KPI metrics, and other supplemental information. Investors are encouraged to review it regularly.

04—Continue

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