Every 424B that Strategy Inc (MSTR) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MSTR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MSTR filings page.
MSTR amends its STRC preferred stock prospectus to permit semi-monthly dividends and confirm an at-the-market shelf. The supplement updates the Variable Rate Series A Perpetual Stretch Preferred Stock Annex to reflect an Amended and Restated Certificate of Designations filed June 15, 2026 and effective June 30, 2026, changing declared regular dividends to be payable semi-monthly on the 15th and last calendar day of each month. The supplement references an at-the-market program to offer up to $21,000,000,000 of STRC Stock and states the last reported sale price of STRC Stock was $87.31 per share on June 23, 2026.
MicroStrategy files Supplement No. 2 to its base prospectus supplement to amend the Use of Proceeds disclosure and rename the Plan of Distribution section to Plan of Distribution (Conflicts of Interest). The supplement states offerings may include Class A common stock and series of preferred stock under an Omnibus Sales Agreement and reiterates that certain agents or their affiliates may hold the company's equity or convertible notes and could receive proceeds if repurchases occur. The supplement adds a Conflicts of Interest subsection referencing FINRA Rule 5121 and notes bitcoin price volatility in the prior 12 months, citing trades below $65,000 and above $120,000.
Strategy Inc. is offering up to $21,000,000,000 of Class A common stock in an at-the-market program under a Sales Agreement and an Additional Program Addendum with multiple agents, as supplemented. The program supplements a prior annex under which the company sold 57,766,889 shares for aggregate proceeds of $9,614,125,940.65, leaving $6,240,239,324.89 available under the prior annex. Shares outstanding were 325,954,147 as of March 19, 2026. The last reported sale price was $135.66 per share on March 20, 2026. The offering will be conducted "at the market" through the listed agents and is subject to the terms of the Sales Agreement and its addenda.
Strategy Inc is offering up to $21,000,000,000 of Variable Rate Series A Perpetual Stretch Preferred Stock ("STRC Stock") through an at-the-market sales agreement.
The filing notes a prior STRC program of $4,200,000,000, under which 22,235,402 shares were sold for aggregate proceeds of $2,224,171,836.94, leaving $1,975,828,163.06 available under that prior annex. As of the annex date, 50,246,513 shares of STRC Stock were outstanding and the STRC Stock has a stated liquidation preference of $100 per share. The regular dividend rate is variable and is 11.50% per annum as of the annex; the company states it may adjust the rate monthly with the stated goal (at its sole discretion) of maintaining market price near $100 per share. Redemption and repurchase features (including optional redemption at $101 per share and repurchase rights on a fundamental change) and tax and fast-pay stock risks are described.
Strategy Inc is offering, through an at-the-market program, up to $2,100,000,000 aggregate offering price of its 8.00% Series A Perpetual Strike Preferred Stock ("STRK Stock") pursuant to an omnibus sales agreement and an additional program addendum.
The offering would constitute a further issuance in addition to the 14,020,744 shares of STRK Stock outstanding as of March 19, 2026. The STRK Stock carries an initial liquidation preference of $100 per share and an 8.00% cumulative dividend rate, and the company states it intends to seek common stockholder ratification of a certificate amendment that adjusts the liquidation preference formula; investors should treat that amendment as subject to ratification.
MSTR entered into joinders dated March 23, 2026 that add Moelis & Company LLC, A.G.P./Alliance Global Partners and StoneX Financial Inc. as additional sales agents under its Omnibus Sales Agreement to permit at-the-market offerings of Class A common stock and several series of preferred stock.
The supplement amends references to “Agent” or “Agents” to include those firms and reiterates that sales under the agreement will be conducted by a single Selling Agent per class or series on any trading day, with limited exceptions for pre-market, post-market or block transactions as described in the agreement. Risk factors and other disclosures in the base prospectus supplement and prospectus remain unchanged.
Strategy Inc launched a primary offering of 7,750,000 shares of its 10.00% Series A Perpetual Stream Preferred Stock (“STRE”). The shares are offered at €80.00 per share, carry a stated amount and initial liquidation preference of €100 per share, and pay cumulative cash dividends at 10.00% of the stated amount, payable quarterly when, as and if declared, beginning on December 31, 2025.
The underwriting table indicates gross proceeds of €620,000,000, underwriting fees of €8,525,000, and proceeds to the company of €611,475,000 before expenses; Strategy estimates net proceeds of about €608.8 million for general corporate purposes, including bitcoin acquisitions and working capital.
The company may redeem all (but not part) of the series if outstanding shares fall below 25% of total originally issued (including future offerings) or upon a tax event. Holders receive a repurchase right at stated amount plus unpaid dividends upon a fundamental change. Strategy will apply to list STRE on the Luxembourg Stock Exchange’s Euro MTF under “STRE,” with trading expected within 30 days after first issuance.
Strategy Inc launched a new at-the-market program for its 8.00% Series A Perpetual Strike Preferred Stock (“STRK Stock”) under a prospectus supplement, allowing sales of up to $20,340,632,356.64 in aggregate offering price through multiple agents. This replaces a prior STRK program; the company had sold 6,618,518 shares for $659,367,643.36 and terminated the earlier sales agreement, moving the remaining capacity into this annex.
The STRK Stock pays cumulative dividends at 8.00% on its liquidation preference, payable quarterly in cash, class A common shares, or a mix. It is initially convertible at 0.1000 class A common shares per STRK share (implying an initial $1,000.00 conversion price per common share), and carries a $100 initial liquidation preference subject to a daily adjustment mechanism described in the filing. As of the date of the annex, 13,918,518 STRK shares were outstanding.
Proceeds are earmarked for general corporate purposes, including the acquisition of bitcoin, working capital, and potentially cash dividends on outstanding dividend senior stock. STRK trades on Nasdaq as STRK; class A common trades as MSTR.
Strategy Inc (MSTR) filed a prospectus supplement for an at‑the‑market offering of its 10.00% Series A Perpetual Stride Preferred Stock, registering up to $4,133,799,112.67 in aggregate offering price to be sold from time to time through designated agents.
The STRD Stock pays non‑cumulative 10.00% regular dividends on a stated amount of $100 per share, only when and if declared, and carries an initial liquidation preference of $100 per share, subject to adjustment but never below $100. The company may redeem all outstanding shares in limited cases (including when less than 25% of originally issued shares remain outstanding) and holders have a cash repurchase right upon a fundamental change. Use of proceeds is for general corporate purposes, including the acquisition of bitcoin, working capital, and potentially cash dividends on dividend senior stock. STRD is listed on Nasdaq as “STRD”; the last reported sale price was $78.14 per share on November 3, 2025. As context, 12,539,683 shares of STRD were outstanding as of October 31, 2025.
Strategy Inc launched an at-the-market offering of up to $1,659,967,526.88 of its 10.00% Series A Perpetual Strife Preferred Stock (STRF), to be sold from time to time through designated agents under a new sales agreement.
The company will receive cash proceeds and plans to use them for general corporate purposes, including the acquisition of bitcoin, and for working capital. The STRF carries 10.00% cumulative cash dividends payable quarterly if declared; any unpaid dividends accrue as compounded dividends that step up by 100 basis points per period, up to 18% per annum until paid. The company may redeem all STRF if shares outstanding fall below 25% of total issued or upon a tax event, and holders have a cash repurchase right upon a fundamental change. There were 12,470,812 STRF shares outstanding as of this annex date, and the last reported STRF price was $110.75 on November 3, 2025. The STRF ranks junior to approximately $8.24 billion of indebtedness as of September 30, 2025.
MicroStrategy (MSTR) launched an at-the-market offering of up to $15,854,365,265.54 of Class A common stock under a new Omnibus Sales Agreement, allowing sales from time to time through multiple agents. The company terminated its prior program and shifted the same remaining capacity to this Common Stock Annex.
Proceeds will be used for general corporate purposes, including the acquisition of bitcoin, working capital, and potential cash dividends on outstanding preferred stock. The Class A stock last closed at $264.67 on November 3, 2025. Shares outstanding were 267,713,485 as of October 31, 2025.
The filing illustrates dilution at an assumed price of $264.67, with an as adjusted net tangible book value of $2.34 per share. As of September 30, 2025, consolidated indebtedness totaled $8.24 billion. Offering expenses (excluding commissions) are estimated at approximately $300,000.
Strategy Inc filed a prospectus supplement for an at‑the‑market offering of up to $4,200,000,000.00 of its Variable Rate Series A Perpetual Stretch Preferred Stock (“STRC Stock”), to be sold from time to time through multiple agents. The STRC Stock carries a $100 per share initial liquidation preference and accumulates monthly dividends at a variable rate; the rate is 10.50% per annum as of this supplement. Shares are listed on Nasdaq under STRC; the last reported sale price was $99.61 on November 3, 2025.
The company intends to use net proceeds for general corporate purposes, including the acquisition of bitcoin and working capital, and may also use proceeds for cash dividends on any dividend senior stock then outstanding. This issuance is fungible with outstanding STRC Stock (other than initial dates) and may be redeemed at the company’s option subject to stated conditions. There were 28,011,111 shares of STRC Stock outstanding as of the date of this annex. The regular dividend rate may be adjusted by the company, subject to limits, with a stated intention to keep trading near the $100 stated amount.
MicroStrategy (MSTR) filed a base prospectus supplement establishing at-the-market programs to sell shares of its Class A common stock and multiple series of preferred stock from time to time through a syndicate of agents, including TD Securities, Morgan Stanley, Barclays, Cantor, and others. Sales may be made as ATM transactions, negotiated trades, or block trades, with each agent using commercially reasonable efforts on mutually agreed terms. Agents are deemed underwriters, and compensation will be up to 2.0% of gross proceeds.
The company may use proceeds for general corporate purposes, including the acquisition of bitcoin, working capital, and potential cash dividends on preferred stock as set by the board. There is no escrow arrangement, settlements generally occur the trading day after sale, and offerings will be detailed in annexes that specify the class or series and terms. The filing highlights risks tied to bitcoin price volatility, potential dilution from future equity or convertible offerings, and market interest rate conditions.
Strategy Inc launched a primary offering of 3,500,000 shares of its 10.00% Series A Perpetual Stream Preferred Stock (“STRE”). Each share has a stated amount and initial liquidation preference of €100, with the liquidation preference adjustable but not below €100. Dividends are cumulative at 10.00% per year, payable quarterly in arrears on March 31, June 30, September 30 and December 31, beginning December 31, 2025, when and if declared, and paid in cash.
The company may redeem all, but not less than all, STRE if outstanding shares fall below 25% of the total originally issued across offerings, or upon a tax event, at the liquidation preference plus unpaid dividends. Upon a fundamental change, holders may require a cash repurchase at the stated amount plus unpaid dividends. Strategy will apply to list STRE on the Luxembourg Stock Exchange’s Euro MTF under “STRE,” with trading expected within 30 days after issuance if approved. Net proceeds are intended for general corporate purposes, including bitcoin acquisitions and working capital. STRE has limited voting rights and ranks junior to certain existing preferred and debt.