Strategy Inc. — Form 8-K summary
Reporting date: September 28, 2026. The report updates activity for September 21–27, 2026, and balances as of September 27. It reports capital-market and bitcoin activity, not quarterly financial statements.
Key activity and financial metrics
| Area | Reported information |
|---|---|
| At-the-market offering | Strategy sold 1,469,165 shares of MSTR Class A common stock, generating $246.2 million in net proceeds. Of this, $142.7 million funded bitcoin purchases and $103.5 million funded STRC repurchases. No preferred shares were sold during the period. |
| Bitcoin | Purchased 1,665 BTC for $142.7 million, or an average $85,681 per BTC, including fees and expenses. Holdings reached 847,666 BTC, with aggregate purchase price of $63.95 billion and average purchase price of $75,437 per BTC. |
| Repurchases | Repurchased 1,534,530 STRC preferred shares for $151.7 million. No STRF, STRK, STRD, or MSTR shares were repurchased during the period. Remaining authorization: $723.5 million for preferred-stock repurchases and $1.0 billion for MSTR repurchases. |
| Cash reserves | As of September 27, the USD Reserve was $5.02 billion and USD Cash was $1.00 billion. During the period, $48.1 million of USD Cash funded STRC repurchases and $22.1 million of the USD Reserve funded preferred dividends. |
| Remaining ATM capacity | Reported available amounts: STRF $1,619.3 million; STRC $17,510.8 million; STRK $2,100.0 million; STRD $4,014.8 million; and MSTR $18,844.4 million. |
Changes, outlook, and risks
- The filing provides no revenue, profit, cash-flow statement, margin, debt-balance, or broader liquidity metrics; it does not provide a clear value for these items.
- No guidance, forecast, or material risk update is presented. Management describes the USD Reserve as intended to support preferred dividends and interest on outstanding debt; USD Cash may be used for bitcoin purchases, reserve expansion, capital management, or other similar purposes.
- Strategy points investors to its website dashboard for ongoing information, including bitcoin purchases and holdings and other supplemental metrics.
Important facts for investors to verify
- Confirm the reported bitcoin holdings, purchase costs, and average purchase prices against subsequent company disclosures.
- Review the funding mix for STRC repurchases: $103.5 million from MSTR offering proceeds and $48.1 million from USD Cash.
- Monitor remaining ATM and repurchase authorizations, as well as the USD Reserve relative to preferred dividends and debt interest obligations.
- The filing’s ATM table shows no notional value for MSTR shares sold, while reporting $246.2 million of net proceeds; verify any further detail in company disclosures.