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Strategy 8-K Report, Regulation FD Disclosure (Sep 29, 2025)

Reports
Regulation FD·Other Events
Filing Date
Filed September 29, 2025
Period End
September 29, 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 29, 2025. Cited figures are marked; the original filing is the authoritative source.

On September 29, 2025, Strategy Inc reported updates to its at-the-market (ATM) offering programs for the period September 22 to September 28, 2025.

During that week, the company sold 101,713 STRF Shares (notional value $10.2 milliona, net proceeds $11.3 million), 5,000 STRD Shares ($0.5 million notional, $0.4 million net proceeds), and 347,352 MSTR Shares ($116.4 million net proceeds). No STRC or STRK shares were sold in the period. As of September 28, 2025, the total amount available for issuance and sale across the programs was shown by program, including $4,200.0 million under the STRC ATM and $1,718.8 million under the STRF ATM.

Total net proceeds for the period were $128.1 millionb. The company also reported bitcoin activity for the same period. Strategy acquired 196 bitcoin for an aggregate purchase price of $22.1 million, at an average purchase price of $113,048 per bitcoin, inclusive of fees and expenses.

The bitcoin purchases were funded using proceeds from the STRF, STRD and MSTR ATM programs. As of September 28, 2025, aggregate bitcoin holdings were 640,031 BTC, with an aggregate purchase price of $47.35 billionc and an average purchase price of $73,983 per bitcoin.

Under Item 7.01, the company stated that it maintains a dashboard at www.Strategy.com as a channel for broad, non-exclusionary disclosure, including market prices of its securities, bitcoin holdings and KPI metrics. This information is furnished and not deemed filed for purposes of Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. During September 22 to 28, 2025, Strategy sold 347,352 MSTR shares for $116.4 million in net proceeds, the largest contributor to the week's $128.1 million in total net proceeds.
  2. Strategy sold 101,713 STRF preferred shares (notional value $10.2 million) and 5,000 STRD preferred shares (notional value $0.5 million) during the period.
  3. No STRC or STRK shares were sold during the period; the STRC ATM showed $4.2 billion available for issuance and sale.
  4. The company acquired 196 bitcoin for $22.1 million at an average price of $113,048 per bitcoin, funded by STRF, STRD and MSTR ATM proceeds.
  5. As of September 28, 2025, aggregate bitcoin holdings were 640,031 BTC, with an aggregate purchase price of $47.35 billion and an average purchase price of $73,983 per bitcoin.
  6. The STRF ATM had $1,718.8 million and the MSTR ATM had $15,908.8 million available for issuance and sale as of September 28, 2025.

03—Questions

Frequently Asked Questions

  1. How much did Strategy raise through its ATM programs during the week?

    Total net proceeds for the period September 22 to September 28, 2025 were $128.1 million, with MSTR ATM sales contributing $116.4 million, STRF ATM $11.3 million and STRD ATM $0.4 million.

  2. What was the bitcoin purchase during the period?

    Strategy acquired 196 bitcoin for an aggregate purchase price of $22.1 million, at an average purchase price of $113,048, inclusive of fees and expenses.

  3. How were the bitcoin purchases funded?

    The filing states that the bitcoin purchases were made using proceeds from the STRF ATM, STRD ATM and MSTR ATM programs.

  4. What were Strategy's total bitcoin holdings as of September 28, 2025?

    Aggregate bitcoin holdings were 640,031 BTC, with an aggregate purchase price of $47.35 billion and an average purchase price of $73,983 per bitcoin.

  5. How much capacity remained under the ATM programs as of September 28, 2025?

    The filing shows $4,200.0 million available under the STRC ATM, $20,368.8 million under the STRK ATM, $4,151.4 million under the STRD ATM, $1,718.8 million under the STRF ATM and $15,908.8 million under the MSTR ATM.

04—Continue

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