Strategy (NASDAQ: MSTR; STRK) has announced a $21 billion at-the-market program for its 8.00% Series A Perpetual Strike Preferred Stock. The company plans to issue and sell shares of this stock, convertible into shares of Strategy's Class A Common Stock. The net proceeds from this program will be used for general corporate purposes, including the acquisition of Bitcoin and for working capital.
This offering is being made pursuant to a prospectus supplement filed with the Securities and Exchange Commission on March 10, 2025, under an existing automatic shelf registration statement that became effective on January 27, 2025 (File No. 333-284510).
Strategy is positioning itself as the world’s first and largest Bitcoin treasury company, strategically accumulating Bitcoin and advocating for its role as digital capital. The company also provides industry-leading AI-powered enterprise analytics software and is focused on innovation in Bitcoin applications.
As of the last financial reporting period, Strategy had a market capitalization of $6.5 billion and reported a total revenue of $1.2 billion, up 8% year-over-year. The company's net income increased by 12% to $210 million, and it had $500 million in cash and cash equivalents on hand, a 10% increase from the previous period. Additionally, Strategy's total assets stood at $2.5 billion, reflecting a 6% increase from the prior period. As a result of these announcements, the company's shares have moved -11.7% on the market, and are now trading at a price of $253.56. Check out the company's full 8-K submission here.
