Strategy Inc 8-K

What Happened
Strategy Inc (ticker: MSTR) filed an 8‑K on January 12, 2026 announcing Regulation FD disclosure practices and reporting ATM (at‑the‑market) sales and bitcoin (BTC) purchases during the period January 5–11, 2026. The company reiterated that it maintains a public "Strategy Dashboard" on www.strategy.com as a disclosure channel. During the week, Strategy sold shares under its ATM programs and used proceeds to acquire additional bitcoin.

Key Details

• ATM sales (Jan 5–11, 2026): total net proceeds of $1,247.6 million.
  • MSTR Class A common stock: 6,827,695 shares sold; net proceeds $1,128.5 million; available for issuance/sale remaining $10,256.7 million (figure in filing expressed in millions).
  • STRC (Variable Rate Series A Perpetual Stretch Preferred): 1,192,262 shares sold; notional value $119.2 million; net proceeds $119.1 million; available for issuance/sale $3,923.1 million.
  • No sales reported for STRF, STRK, STRD in this period; available for issuance/sale shown as $1,619.3M (STRF), $20,335.0M (STRK), $4,014.8M (STRD).
• Bitcoin purchases (Jan 5–11, 2026): acquired 13,627 BTC for an aggregate $1,247.1 million (avg $91,519 per BTC). Footnote: these BTC purchases were funded by ATM proceeds from STRC and MSTR sales.
• Aggregate bitcoin position (as of Jan 11, 2026): 687,410 BTC with an aggregate purchase price of $51.80 billion and an average purchase price of $75,353 per BTC. Aggregate/average prices include fees and expenses.
• The filing notes the Strategy Dashboard is used for broad, non‑exclusionary public distribution of information (market prices, BTC purchases/holdings, KPIs) and as a means to comply with Regulation FD.

Why It Matters

• Liquidity & capital deployment: The company raised roughly $1.25 billion through ATM sales in the reported week and immediately deployed those proceeds to buy bitcoin, underscoring Strategy’s continued practice of funding BTC purchases via equity issuance.
• Bitcoin exposure: The update increases transparency on Strategy’s BTC holdings and average cost basis (aggregate holdings and average purchase price), which are key metrics for investors tracking the company’s primary asset exposure.
• Disclosure practice: Reaffirming the public Strategy Dashboard as an official disclosure channel signals where investors should look for ongoing, broad updates about share issuance, BTC purchases, and key performance metrics.