Latham & Watkins Represents Strategy in US$21 Billion STRK At-The-Market Program

Strategy™ (Nasdaq: MSTR; STRK), the world’s first and largest Bitcoin treasury company, has announced that it has entered into a sales agreement pursuant to which Strategy may issue and sell shares of its 8.00% series A perpetual strike preferred stock, US$0.001 par value per share, having an aggregate offering price of up to US$21 billion (the ATM Program). Shares of the perpetual strike preferred stock are convertible by the holders into shares of Strategy’s class A common stock.

Latham & Watkins LLP represented Strategy in the transaction with a corporate team led by partners Greg Rodgers, Marc Jaffe, and Brittany Ruiz, with associates Paul Lau, Nick Gonzalez, and Kan Ni. Advice was also provided on convertible debt matters by partner Arash Aminian Baghai, with associates Ryan Gold and Andrew Bentz; and on tax matters by partners Bora Bozkurt and Jocelyn Noll, with associate Michael Yu.