---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-070793"
form_type: "8-K"
ticker: "MSTR"
cik: "0001050446"
company_name: "Strategy Inc"
filed_at: "2024-03-19T23:59:59+00:00"
generated_at: "2026-06-04T12:51:10.864212+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MicroStrategy closes $603.75M 0.875% convertible notes due 2031; proceeds used for bitcoin

## Summary
- Aggregate principal amount of $603.75M, including $78.75M from full exercise of initial purchasers' option.
- Net proceeds of ~$592.3M used to acquire additional bitcoin.
- Notes bear 0.875% interest, mature March 15, 2031; convertible at $2,327.21/share (40% premium).
- Conversion rate initially 0.4297 shares per $1,000 principal; redemption allowed after March 22, 2028 if stock price condition met.
- Holders can require repurchase on Sept 15, 2028 or upon a fundamental change at 100% principal plus interest.

## SEC filing metadata
- accession: 0001193125-24-070793
- form_type: 8-K
- ticker: MSTR
- cik: 0001050446
- company_name: Strategy Inc
- filed_at: 2024-03-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050446/000119312524070793/0001193125-24-070793-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050446/000119312524070793/d792323d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-070793
- JSON: https://secwatch.observer/filing/0001193125-24-070793.json
- Plain text: https://secwatch.observer/filing/0001193125-24-070793.txt

## Key facts
- Debt Financings
  Strategy Inc incurred senior notes of $603.75 million with Citigroup Global Markets Inc., as representative of the several initial purchasers at 0.875% per year maturing March 15, 2031.
  - Instrument: senior notes
  - Principal: $603.75 million
  - Counterparty: Citigroup Global Markets Inc., as representative of the several initial purchasers
  - Rate: 0.875% per year
  - Maturity: March 15, 2031
  - Event: incurrence
  source text: buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of the notes sold in the offering was $603.75 million, which includes $78.75 million aggregate principal amount of notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050446/000119312524070793/0001193125-24-070793-index.htm
- Material Agreements
  Strategy Inc entered into Convertible Note Offering with Citigroup Global Markets Inc. valued at $603.75 million aggregate principal amount of 0.875% convertible senior notes due 2031 (effective 2024-03-18).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Citigroup Global Markets Inc.
  - Value: $603.75 million aggregate principal amount of 0.875% convertible senior notes due 2031
  - Effective: 2024-03-18
  source text: On March 18, 2024, MicroStrategy Incorporated (the “Company”) completed its previously announced private offering of 0.875% convertible senior notes due 2031 (the “notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050446/000119312524070793/0001193125-24-070793-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.