Strategy (MSTR) unveiled a $42 billion at-the-market (ATM) equity program, split between $21 billion of Class A common stock (MSTR) and $21 billion of Series A floating rate perpetual preferred stock, Stretch (STRC), according to an 8-K filing.
The company also introduced a new $2.1 billion ATM program for its STRK preferred stock, replacing a previous STRK program that had more than $20 billion remaining.
The company has expanded its sales union. Strategy added Moelis & Company, AGP/Alliance Global Partners and StoneX Financial, bringing the total number of agents to 19. These companies act as intermediaries, selling shares into the market over time, allowing the company to raise capital incrementally rather than through one-off, large offerings.
As of March 22, Strategy still had capacity on its existing ATM programs. This included approximately $6.24 billion of common stock, $1.98 billion of STRC, $20.33 billion of STRK and $1.62 billion of STRF available for issuance.
Last week, the company purchased an additional 1,031 bitcoins, bringing its holdings to 762,099 coins. Stocks are slightly higher on Monday as bitcoin trades slightly higher than Friday’s close of $71,300.
