Strategy (MSTR) has announced a substantial $42 billion at-the-market (ATM) equity program, structured as a dual-tranche offering comprising $21 billion in Class A common stock (MSTR) and an equivalent $21 billion allocation of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), as detailed in a recently filed 8-K disclosure with the SEC.
Alongside this flagship program, the company separately launched a new $2.1 billion ATM facility dedicated to its STRK preferred stock — effectively superseding a previous STRK program that still carried more than $20 billion in unused capacity at the time of its retirement.
Strategy also moved to broaden its capital markets distribution infrastructure by expanding its sales syndicate. The company added Moelis & Company, A.G.P./Alliance Global Partners, and StoneX Financial to its roster, elevating the total number of participating agents to 19. Operating as market intermediaries, these firms facilitate the gradual sale of shares into open markets over time — a mechanism that enables Strategy to accumulate capital incrementally rather than relying on concentrated, single-event offerings that could introduce significant market disruption.
As of March 22, the company retained meaningful headroom across its existing ATM programs. Outstanding issuance capacity stood at approximately $6.24 billion in common stock, $1.98 billion in STRC preferred shares, $20.33 billion in STRK, and $1.62 billion in STRF — underscoring the considerable scale of Strategy's ongoing capital formation infrastructure.
The fundraising developments come as Strategy continues to actively build its bitcoin treasury position. The company acquired an additional 1,031 bitcoin in the prior week, bringing its aggregate holdings to 762,099 coins. MSTR shares edged modestly higher in Monday trading as bitcoin posted slight gains from its Friday closing price of $71,300.
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