01—Abstract
Summary
Summary of the 8-K filed May 18, 2026. Cited figures are marked; the original filing is the authoritative source.
On May 18, 2026, Strategy Inc (MSTR) filed a Current Report on Form 8-K disclosing weekly updates on its at-the-market (ATM) offering program and its bitcoin holdings for the period May 11, 2026 to May 17, 2026.
During that week, the company sold 19,519,801 shares of its STRC preferred stock for net proceeds of $1,949.0 milliona, and 430,344 shares of MSTR Class A common stock for net proceeds of $83.7 million, for total notional value of $2,032.7 million across the ATM securities. No STRF, STRK or STRD shares were sold during the period. The company used ATM proceeds to purchase 24,869 bitcoin during the week at an aggregate purchase price of $2.01 billion, with an average purchase price of $80,985 per bitcoin, inclusive of fees and expenses.
As of May 17, 2026, Strategy's aggregate bitcoin holdings were 843,738 BTC, acquired at an aggregate purchase price of $63.87 billionb and an average purchase price of $75,700 per bitcoin. The filing also notes remaining ATM capacity as of May 17, 2026, including $17,510.8 million for STRC, $26,265.7 million for MSTR common stock (which reflects both the current offering and a separately announced $21.0 billion MSTR Increase, with sales under the increase beginning once existing capacity is substantially depleted), $4,014.8 million for STRD, $2,100.0 million for STRK, and $1,619.3 million for STRF. Under Item 7.01, the company also references its website dashboard (www.strategy.com) as a Regulation FD disclosure channel.
02—Key points
Key Highlights
- Week of May 11-17, 2026: sold 19,519,801 STRC preferred shares for $1,949.0 million in net proceeds, the largest ATM component of the week
- Sold 430,344 MSTR Class A common shares for $83.7 million in net proceeds during the same period
- Total notional value of ATM sales for the week was $2,032.7 million
- Acquired 24,869 bitcoin for an aggregate purchase price of $2.01 billion at an average price of $80,985 (inclusive of fees and expenses)
- Aggregate bitcoin holdings reached 843,738 BTC as of May 17, 2026, with an aggregate purchase price of $63.87 billion and average purchase price of $75,700
- Remaining ATM capacity as of May 17, 2026 included $17,510.8 million for STRC and $26,265.7 million for MSTR common stock, the latter including the $21.0 billion MSTR Increase announced March 23, 2026
03—Questions
Frequently Asked Questions
How were the bitcoin purchases funded?
The filing states that the bitcoin purchases were made using proceeds from the sale of shares under the at-the-market offering program.
What is the MSTR Increase referenced in the filing?
As previously disclosed on March 23, 2026, Strategy announced a new $21.0 billion offering of MSTR common stock, the MSTR Increase. The filing states that sales under it may begin once capacity under the existing MSTR offering is substantially depleted, and the reported MSTR available capacity of $26,265.7 million reflects both offerings combined.
Did Strategy sell any STRF, STRK or STRD preferred stock during the week?
No. The filing reports no shares sold for STRF, STRK or STRD during the period May 11, 2026 to May 17, 2026, though it shows remaining availability of $1,619.3 million for STRF, $2,100.0 million for STRK and $4,014.8 million for STRD.
What do the notional value and net proceeds represent?
Notional value is the total face value of preferred stock sold, which is used to calculate dividends on it. Net proceeds are presented net of sales commission.
04—Continue