FILINGStrategy (MSTR) · 8-K · accepted Friday, May 15, 2026, 8:00 AM ET
Strategy reports privately negotiated repurchases of about $1.50B of its 0% Convertible Senior Notes due 2029
From Strategy’s 8-K, accepted by the SEC on May 15, 2026 at 8:00 AM ET.
What it says
Strategy reports privately negotiated repurchases of about $1.50B of its 0% Convertible Senior Notes due 2029 for an estimated cash price of about $1.38B, leaving about $1.50B outstanding.
The numbers
| Debt principal | $1.50B | as of May 19 |
What it changed
mNAV
1.37xMay 14 close
1.35xMay 15 close
Enterprise value (diluted market value plus debt and preferreds, minus cash) ÷ bitcoin held
Sats per diluted share
213,376May 14 close
213,376May 15 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
48.1 yrsMay 14 close
47.0 yrsMay 15 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 Friday, May 15, 2026, 8:00 AM ET. Accession 0001193125-26-225361.
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.