Strategy said in a Form 8-K that it agreed to repurchase about $1.5 billion principal amount of its 0% 2029 convertible senior notes for about $1.38 billion in cash, with the transaction expected to close on May 19. The company said it may fund the buyback through cash reserves, at-the-market equity sales, and/or Bitcoin sales. The repurchase would retire about half of its outstanding 2029 0% convertible senior notes, reducing its debt load as part of broader balance sheet management within its Bitcoin treasury strategy.