Business Context and Reporting Period
Strategy Inc filed a Form 8-K on February 17, 2026, reporting events occurring between February 9, 2026, and February 16, 2026. The company operates an At-The-Market (ATM) offering program for various preferred and common stock classes and maintains significant Bitcoin holdings.
Key Financial Metrics
Capital Raises (ATM Program)
- Total Net Proceeds: $169.0 million (combined from preferred and common stock sales).
- STRC Preferred Stock: 785,354 shares sold; $78.5 million notional value; $78.4 million net proceeds.
- MSTR Common Stock: 660,000 shares sold; $90.5 million net proceeds.
- Remaining ATM Capacity: $37,392.2 million total available across all securities.
Bitcoin Holdings
- Period Acquisitions: 2,486 BTC acquired for $168.4 million (average price: $67,710).
- Total Holdings (as of Feb 16, 2026): 717,131 BTC.
- Total Aggregate Cost Basis: $54.52 billion.
- Overall Average Purchase Price: $76,027 per BTC.
Material Changes
The filing details a net increase in Bitcoin holdings of 2,486 BTC during the reporting week. Capital raised via the ATM program ($169.0 million) was utilized to fund these acquisitions. No sales of Bitcoin were reported in this period.
Outlook and Management Commentary
Management directs investors to the Strategy Dashboard on the company website for ongoing updates on market prices, Bitcoin holdings, and key performance indicators. The company utilizes this dashboard to comply with Regulation FD disclosure obligations. No specific forward-looking guidance or risk factors were detailed in this specific 8-K filing beyond the standard disclosure of ATM activity and asset accumulation.
Investor Verification Checklist
- Verify the current market price of Bitcoin relative to the company's average cost basis of $76,027.
- Confirm the remaining capacity under the ATM program ($37.4 billion) to assess future capital raising potential.
- Review the Strategy Dashboard for real-time updates on holdings and any subsequent transactions not captured in this weekly report.
- Monitor the dividend obligations associated with the newly issued STRC preferred stock.