FILINGStrategy (MSTR) · 8-K · accepted Thursday, Jul 31, 2025, 4:24 PM ET
Strategy a new $4.2B at-the-market program for STRC preferred stock and filed a Certificate of Increase
From Strategy’s 8-K, accepted by the SEC on Jul 31, 2025 at 4:24 PM ET.
What it says
Strategy announced a new $4.2B at-the-market program for its STRC preferred stock and filed a Certificate of Increase raising authorized STRC shares to 70,435,353.
What it changed
mNAV
1.95xJul 31 close
1.83xAug 1 close
Enterprise value (diluted market value plus debt and preferreds, minus cash) ÷ bitcoin held
Sats per diluted share
198,752Jul 31 close
198,752Aug 1 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
125.8 yrsJul 31 close
123.1 yrsAug 1 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet)
Also that day
Source
Form 8-K filed by Strategy Inc with the SEC, accepted Thursday, Jul 31, 2025, 4:24 PM ET. Accession 0001193125-25-170550.
Summary and figures read from the filing by Orange Paper’s filing reader and checked before publishing. Calculations (pro forma and close figures) are ours.