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

Reports
Regulation FD·Other Events
Filing Date
Filed September 8, 2025
Period End
September 8, 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 September 8, 2025. Cited figures are marked; the original filing is the authoritative source.

Strategy Inc (MSTR) filed a Form 8-K on September 8, 2025 to report updates on its at-the-market (ATM) offering programs and its bitcoin holdings for the period from September 2, 2025 to September 7, 2025.

During that period, the company sold 104,381 STRF shares ($10.4 milliona notional, $11.6 million net proceeds), 54,558 STRK shares ($5.5 million notional, $5.2 million net proceeds), and 591,606 MSTR shares ($200.5 million net proceeds). The STRC and STRD programs had no sales in the period. Total net proceeds from the period were $217.3 million.

Remaining capacity as of September 7, 2025 was $1,783.6 millionb under the STRF program, $4,200.0 million under the STRC program, $20,386.1 million under the STRK program, $4,168.8 million under the STRD program, and $16,105.9 million under the MSTR program. The company also reported bitcoin activity. It acquired 1,955 BTC during the period for an aggregate purchase price of $217.4 million, inclusive of fees and expenses, at an average price of $111,196 per bitcoin.

As of September 7, 2025, aggregate bitcoin holdings were 638,460 BTC, with an aggregate purchase price of $47.17 billionc and an average purchase price of $73,880 per bitcoin, both inclusive of fees and expenses. The filing states that the bitcoin purchases were made using proceeds from the STRF, STRK, and MSTR ATM programs.

Under Item 7.01, the company noted that it uses its website, www.Strategy.com, as a channel for public disclosure, including market prices of its securities, bitcoin purchases and holdings, KPI metrics, and other supplemental information. The company states that this website is one means of disclosing non-public information for Regulation FD purposes, and that the Item 7.01 information is furnished and not deemed filed under Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. Net proceeds of $217.3 million from ATM sales during September 2 to September 7, 2025, with 591,606 MSTR shares sold for $200.5 million in net proceeds.
  2. Bitcoin acquisitions of 1,955 BTC for an aggregate purchase price of $217.4 million, at an average price of $111,196 per bitcoin, inclusive of fees and expenses.
  3. Aggregate bitcoin holdings of 638,460 BTC as of September 7, 2025, with an aggregate purchase price of $47.17 billion and an average purchase price of $73,880.
  4. Bitcoin purchases were funded using proceeds from the STRF, STRK, and MSTR ATM programs.
  5. STRF program sold 104,381 shares ($10.4 million notional, $11.6 million net proceeds), with $1,783.6 million remaining available for issuance and sale.
  6. STRK program sold 54,558 shares ($5.5 million notional, $5.2 million net proceeds), with $20,386.1 million remaining available for issuance and sale.
  7. STRC and STRD programs had no sales during the period, with $4,200.0 million and $4,168.8 million remaining available, respectively.

03—Questions

Frequently Asked Questions

  1. How did Strategy raise the funds it used to buy bitcoin in this period?

    According to the filing, the bitcoin purchases were made using proceeds from the STRF, STRK, and MSTR ATM programs. During September 2 to September 7, 2025, the company reported net proceeds of $217.3 million across ATM sales.

  2. How much bitcoin did Strategy acquire and at what cost?

    Strategy acquired 1,955 BTC during the period from September 2 to September 7, 2025, for an aggregate purchase price of $217.4 million, inclusive of fees and expenses, at an average purchase price of $111,196 per bitcoin.

  3. What are Strategy's total bitcoin holdings as of September 7, 2025?

    As of September 7, 2025, Strategy's aggregate bitcoin holdings were 638,460 BTC. The aggregate purchase price was $47.17 billion, inclusive of fees and expenses, with an average purchase price of $73,880 per bitcoin.

  4. How much capacity remains under each ATM program?

    As of September 7, 2025, the filing reports $1,783.6 million available under the STRF program, $4,200.0 million under the STRC program, $20,386.1 million under the STRK program, $4,168.8 million under the STRD program, and $16,105.9 million under the MSTR program.

  5. Where does Strategy disclose information for investors beyond SEC filings?

    The company maintains a dashboard at www.Strategy.com that it describes as a channel for broad, non-exclusionary distribution of information, including market prices of its securities, bitcoin purchases and holdings, KPI metrics, and other supplemental information. The company states that it also uses this website to make certain disclosures under Regulation FD.

04—Continue

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