---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-032800"
form_type: "8-K"
ticker: "MSTR"
cik: "0001050446"
company_name: "Strategy Inc"
filed_at: "2025-02-24T23:59:59+00:00"
generated_at: "2026-05-26T05:23:31.027687+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MicroStrategy completes $2B zero-coupon convertible note offering due 2030

## Summary
- Net proceeds ~$1.99B; $2B principal, option for additional $300M.
- Initial conversion rate 2.3072 shares/$1,000, price ~$433.43 per share (~35% premium over VWAP).
- Notes mature March 1, 2030; no regular interest; redeemable after March 5, 2027 if stock >130% of conversion price.
- Proceeds to be used for general corporate purposes, including bitcoin acquisition and working capital.
- Notes are senior unsecured; noteholders may require repurchase on March 1, 2028 at principal plus unpaid interest.

## SEC filing metadata
- accession: 0001193125-25-032800
- form_type: 8-K
- ticker: MSTR
- cik: 0001050446
- company_name: Strategy Inc
- filed_at: 2025-02-24T23:59:59+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/1050446/000119312525032800/0001193125-25-032800-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050446/000119312525032800/d851880d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-032800
- JSON: https://secwatch.observer/filing/0001193125-25-032800.json
- Plain text: https://secwatch.observer/filing/0001193125-25-032800.txt

## Key facts
- Debt Financings
  Strategy Inc incurred convertible notes of $2 billion at 0% maturing March 1, 2030.
  - Instrument: convertible notes
  - Principal: $2 billion
  - Rate: 0%
  - Maturity: March 1, 2030
  - Event: incurrence
  source text: The aggregate principal amount of the notes sold in the offering was $2 billion.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050446/000119312525032800/0001193125-25-032800-index.htm

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