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Strategy 8-K Report, Regulation FD Disclosure (Jun 2, 2025)

Reports
Regulation FD·Other Events
Filing Date
Filed June 2, 2025
Period End
June 2, 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 June 2, 2025. Cited figures are marked; the original filing is the authoritative source.

Strategy (filed as MicroStrategy Incorporated, d/b/a Strategy) reported on June 2, 2025 updates to its at-the-market (ATM) offering programs and its bitcoin holdings for the period May 26, 2025 to June 1, 2025.

During that period, the Company sold no Class A Common Stock (MSTR Shares) under its Common ATM, which had a $21 billiona size established May 1, 2025, with $18.63 billion of MSTR Shares still available as of June 1, 2025. Under the STRK ATM (8.00% series A perpetual strike preferred stock, $21 billion size, established March 10, 2025), the Company sold 353,511 STRK Shares for $36.2 million in net proceeds, leaving $20.68 billion available. Under the STRF ATM (10.00% series A perpetual strike preferred stock, $2.1 billion size, established May 22, 2025), it sold 374,968 STRF Shares for $38.4 million in net proceeds, leaving $2.05 billion available.

Total net proceeds across the programs were $74.6 millionb. The Company also acquired 705 bitcoin during the period for an aggregate purchase price of $75.1 million (average $106,495 per bitcoin, inclusive of fees and expenses), funded by proceeds from the STRK and STRF ATMs. As of June 1, 2025, aggregate bitcoin holdings were 580,955 BTC with an aggregate purchase price of $40.68 billion and an average purchase price of $70,023 per bitcoin, inclusive of fees and expenses.

Separately, the board declared quarterly cash dividends of $2.00c per share on the STRK Shares and approximately $2.64 per share on the STRF Shares, payable June 30, 2025 to holders of record at the close of business on June 15, 2025. The filing also references the Company's website dashboard (www.strategy.com) as a Regulation FD disclosure channel, with the Item 7.01 information furnished rather than filed.

02—Key points

Key Highlights

  1. Bitcoin holdings reached 580,955 BTC as of June 1, 2025, with an aggregate purchase price of $40.68 billion and an average purchase price of $70,023, both inclusive of fees and expenses.
  2. During May 26 to June 1, 2025, the Company acquired 705 bitcoin for an aggregate purchase price of $75.1 million (average $106,495), funded by STRK and STRF ATM proceeds.
  3. No MSTR Shares were sold under the $21 billion Common ATM during the period; $18.63 billion of capacity remained available as of June 1, 2025.
  4. STRK ATM sold 353,511 shares for $36.2 million in net proceeds, with $20.68 billion of capacity remaining under the $21 billion program.
  5. STRF ATM sold 374,968 shares for $38.4 million in net proceeds, with $2.05 billion of capacity remaining under the $2.1 billion program established May 22, 2025.
  6. Total net proceeds from all ATM programs for the period were $74.6 million, net of sales commissions.
  7. Board declared quarterly dividends of $2.00 per STRK Share and approximately $2.64 per STRF Share, payable June 30, 2025 to holders of record on June 15, 2025.

03—Questions

Frequently Asked Questions

  1. How much bitcoin did Strategy hold as of June 1, 2025?

    As of June 1, 2025, Strategy's aggregate bitcoin holdings were 580,955 BTC, with an aggregate purchase price of $40.68 billion and an average purchase price of $70,023 per bitcoin, inclusive of fees and expenses.

  2. How were the bitcoin purchases during the period funded?

    The 705 bitcoin acquired between May 26 and June 1, 2025, for an aggregate purchase price of $75.1 million, were made using proceeds from the STRK ATM and STRF ATM.

  3. Did Strategy sell any common stock under its at-the-market program in this period?

    No. The filing shows no shares sold under the Common ATM during May 26 to June 1, 2025, leaving $18.63 billion of MSTR Shares available for issuance and sale as of June 1, 2025.

  4. What are the dividend terms for the STRK and STRF preferred shares?

    The board declared quarterly cash dividends of $2.00 per share on STRK Shares and approximately $2.64 per share on STRF Shares, payable June 30, 2025 to holders of record at the close of business on June 15, 2025. The STRF dividend accounts for accrual from March 25, 2025, the STRF issuance date.

  5. How much capital remains available under the preferred stock ATM programs?

    As of June 1, 2025, $20.68 billion of STRK Shares remained available under the $21 billion STRK ATM, and $2.05 billion of STRF Shares remained available under the $2.1 billion STRF ATM.

04—Continue

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