<SEC-DOCUMENT>0001193125-23-041097.txt : 20230216
<SEC-HEADER>0001193125-23-041097.hdr.sgml : 20230216
<ACCEPTANCE-DATETIME>20230216162615
ACCESSION NUMBER:		0001193125-23-041097
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230216
DATE AS OF CHANGE:		20230216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MICROSTRATEGY Inc
		CENTRAL INDEX KEY:			0001050446
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				510323571
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-257087
		FILM NUMBER:		23638844

	BUSINESS ADDRESS:	
		STREET 1:		1850 TOWERS CRESCENT PLAZA
		CITY:			TYSONS CORNER
		STATE:			VA
		ZIP:			22182
		BUSINESS PHONE:		703-848-8600

	MAIL ADDRESS:	
		STREET 1:		1850 TOWERS CRESCENT PLAZA
		CITY:			TYSONS CORNER
		STATE:			VA
		ZIP:			22182

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICROSTRATEGY INC
		DATE OF NAME CHANGE:	19971126
</SEC-HEADER>
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<TYPE>424B5
<SEQUENCE>1
<FILENAME>d454381d424b5.htm
<DESCRIPTION>424B5
<TEXT>
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<TITLE>424B5</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>As Filed Pursuant to Rule 424(b)(5) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-257087</FONT> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PROSPECTUS SUPPLEMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(To Prospectus Supplement Dated
September&nbsp;9, 2022 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>To Prospectus Dated June&nbsp;14, 2021) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g454381g0216094316705.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>Up to $500,000,000 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Class&nbsp;A Common Stock </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This prospectus supplement
amends and supplements the information in the prospectus, dated June&nbsp;14, 2021, filed with the Securities and Exchange Commission as a part of our registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-257087),</FONT> as previously supplemented by our prospectus supplement, dated September&nbsp;9, 2022 (together, the &#147;Prior Prospectus&#148;), relating to the offer and sale shares of our class A common
stock, par value $0.001 per share, having an aggregate offering price of up to of up to $500,000,000 pursuant to the Sales Agreement (the &#147;Sales Agreement&#148;) with Cowen and Company, LLC and BTIG, LLC, dated September&nbsp;9, 2022. This
prospectus supplement should be read in conjunction with the Prior Prospectus, and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the Prior Prospectus. This
prospectus supplement is not complete without, and may only be delivered or utilized in connection with, the Prior Prospectus and any future amendments or supplements thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To date, we have sold 218,575 of our shares of our class A common stock for aggregate gross proceeds of approximately $46,600,000 in accordance with the Sales
Agreement under the Prior Prospectus. We are filing this prospectus supplement to amend and restate the disclosure under the heading &#147;Use of Proceeds&#148; in Prior Prospectus in its entirety as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">From time to time, we may issue and sell shares of our class A common stock having aggregate sales proceeds of up to $500,000,000. Because
there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital,
and subject to market conditions, for the repurchase of our 0.750% Convertible Senior Notes due 2025 (the &#147;2025 Convertible Notes&#148;) and our 0% Convertible Senior Notes due 2027 (the &#147;2027 Convertible Notes&#148;) and for the repayment
of our outstanding indebtedness under a secured term loan pursuant to a Credit and Security Agreement between our wholly-owned subsidiary, MacroStrategy LLC, and Silvergate Bank (the &#147;2025 Secured Term Loan&#148;). The 2025 Convertible Notes
and 2027 Convertible Notes bear interest at a rate of 0.75% and 0% per annum, respectively, and mature on December&nbsp;15, 2025 and February&nbsp;15, 2027, respectively, unless earlier converted, redeemed, or repurchased in accordance with their
respective terms. The 2025 Secured Term Loan bears interest at a floating rate equal to the Secured Overnight Financing Rate 30 Day Average, as published by the Federal Reserve Bank of New York&#146;s website, plus 3.70% (4.42% as of
February&nbsp;15, 2023), with a floor of 3.75%, matures on March&nbsp;23, 2025 and is subject to a prepayment premium of 0.50% of the principal balance being prepaid if such prepayment is made on or before March&nbsp;23, 2023 and 0.25% of the
principal balance being prepaid if such prepayment is made during after March&nbsp;23, 2023 and on or before prior to March&nbsp;23, 2024. We have used the proceeds from the 2025 Secured Term Loan to acquire approximately 4,167 bitcoins for
approximately $190,500,000&nbsp;million in cash. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">We have not determined the amount of net proceeds to be used specifically for any of
these purposes. As a result, our management will have broad discretion in the application of the net proceeds from this offering and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being
used in a manner of which you approve. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our class A common stock is listed on The Nasdaq Global Select Market under the trading symbol &#147;MSTR.&#148;
On February&nbsp;15, 2023, the last sale price of our class A common stock as reported on The Nasdaq Global Select Market was $298.40 per share. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; "><B>Our business and an
investment in our class A common stock involve significant risks. These risks are described under the caption &#147;<U>Risk Factors</U>&#148; beginning on <FONT STYLE="white-space:nowrap">page&nbsp;S-8</FONT> of the Prior Prospectus and in the
documents incorporated by reference into the Prior Prospectus. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Neither the Securities and Exchange Commission nor any state securities commission
has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:16pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:16pt">
<TD VALIGN="bottom" ALIGN="center"><B>Cowen</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>BTIG</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>February&nbsp;16, 2023 </B></P>
</DIV></Center>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
