Strategy Unveils $21 Billion STRK At-The-Market Offering Program

Strategy has disclosed a sales agreement enabling the company to issue and sell shares of its 8.00% Series A Perpetual Strike Preferred Stock, with a par value of $0.001 per share (the “perpetual strike preferred stock”), for a total offering amount of up to $21.0 billion (the “ATM Program”).  

Holders of these shares will have the option to convert them into Strategy’s Class A common stock.

Sales under the ATM Program will be conducted over time, subject to market conditions, including the trading price and liquidity of the perpetual strike preferred stock.

The company states that proceeds from the ATM Program will be used for general corporate purposes, including the acquisition of Bitcoin and working capital.

Under the terms of the Sales Agreement, shares of the perpetual strike preferred stock may be sold through various methods, including at-the-market offerings as outlined in Rule 415(a)(4) under the Securities Act of 1933, as amended. 

Sales may also take place through negotiated transactions or block trades, in accordance with applicable regulations.

The offering is being made exclusively through a prospectus supplement, filed with the Securities and Exchange Commission (SEC) on March 10th, 2025. 

The filing is part of Strategy’s existing automatic shelf registration statement, which became effective on January 27th, 2025.