01—Abstract
Summary
Summary of the 8-K filed June 16, 2025. Cited figures are marked; the original filing is the authoritative source.
On June 16, 2025, MicroStrategy Incorporated, d/b/a Strategy ("Strategy"), reported updates to its at-the-market (ATM) offering programs and its bitcoin holdings for the period June 9 to June 15, 2025.
No common stock was sold under the Common ATM during the period, leaving $18,631.2 milliona available under that program. Under the STRK ATM, the company sold 452,487 STRK preferred shares for net proceeds of $48.4 million, and under the STRF ATM it sold 286,101 STRF shares for net proceeds of $30.0 million. Total notional value across these preferred ATMs was $78.4 million.
The company also disclosed that it completed its STRD perpetual preferred offering on June 10, 2025, selling 11,764,700 shares at $85.00b per share, with expected net proceeds of approximately $979.7 million. Strategy stated that bitcoin purchases during the period were funded by proceeds from the STRK ATM, STRF ATM and STRD Offering.
During the June 9 to June 15, 2025 period, Strategy acquired 10,100 bitcoin for an aggregate purchase price of $1,051.2 millionc, at an average price of $104,080 per bitcoin, inclusive of fees and expenses. As of June 15, 2025, aggregate bitcoin holdings were 592,100 BTC, with an aggregate purchase price of $41,841.5 million and an average purchase price of $70,666 per bitcoin.
02—Key points
Key Highlights
- Acquired 10,100 bitcoin during June 9–15, 2025 for an aggregate purchase price of $1,051.2 million (average $104,080 per bitcoin, inclusive of fees).
- Aggregate bitcoin holdings reached 592,100 BTC as of June 15, 2025, with an aggregate purchase price of $41,841.5 million and average purchase price of $70,666.
- STRK ATM sold 452,487 shares for $45.2 million notional value and $48.4 million net proceeds; $20,568.4 million remains available under this program.
- STRF ATM sold 286,101 shares for $28.6 million notional value and $30.0 million net proceeds; $1,975.2 million remains available under this program.
- No Common ATM (MSTR Class A shares) sales were reported in the period; $18,631.2 million remained available for issuance and sale as of June 15, 2025.
- Completed a public offering of 11,764,700 shares of 10.00% Series A Perpetual Stride Preferred Stock (STRD) on June 10, 2025 at $85.00 per share, with expected net proceeds of approximately $979.7 million.
- Filing furnished under Item 7.01 and directs investors to the company's website dashboard (www.strategy.com) for market price, bitcoin and KPI information.
03—Questions
Frequently Asked Questions
How is Strategy funding its bitcoin purchases?
The filing states that the bitcoin purchases during the June 9–15, 2025 period were made using proceeds from the STRK ATM, STRF ATM and the STRD Offering, rather than the Common ATM, which had no sales in that period.
What did Strategy's bitcoin holdings look like as of June 15, 2025?
Aggregate holdings were 592,100 BTC with an aggregate purchase price of $41,841.5 million, an average purchase price of $70,666 per bitcoin, inclusive of fees and expenses.
How much capacity remains under the company's ATM programs?
As of June 15, 2025, $18,631.2 million remained available under the Common ATM, $20,568.4 million under the STRK ATM and $1,975.2 million under the STRF ATM.
What was the STRD preferred stock offering?
On June 10, 2025, the company completed the sale of 11,764,700 shares of its 10.00% Series A Perpetual Stride Preferred Stock at $85.00 per share, with expected net proceeds of approximately $979.7 million after underwriting discounts, commissions and estimated offering expenses.
Is the information in this filing deemed filed under the Exchange Act?
No. The information furnished under Item 7.01 is not deemed filed for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other filings, except where specifically referenced.
04—Continue