Strategy (formerly MicroStrategy) has modified its Omnibus Sales Agreement to permit multiple agents to execute sales of the same security outside normal market hours, expanding the firm’s ability to raise capital through equity issuance.
The company — the largest publicly traded holder of Bitcoin — sold a record amount of its perpetual preferred stock, Stretch (STRC), on Monday. Proceeds from the issuance were used to purchase an estimated 1,420 BTC, according to data tracked by STRC.live.
STRC, which launched in July 2025, is a key component of Strategy’s approach to building its bitcoin treasury. Trading activity in the preferred shares surged during Monday’s session, with nearly $300 million in total volume recorded — significantly higher than the 30-day average of about $124 million, based on figures from the company’s dashboard.
The estimate for the bitcoin purchase is derived from a model that analyzes at-the-market (ATM) equity sales. The methodology assumes that roughly 40% of trading volume above $100 per share represents ATM issuance, while subtracting a 2.5% broker commission before calculating the implied bitcoin purchase.
The latest acquisition follows a much larger buy last week, when Strategy added nearly 18,000 BTC — valued at roughly $1.3 billion at the time.
Strategy has positioned STRC as a short-duration, high-yield investment vehicle designed to function somewhat like a savings instrument. The company recently increased the dividend rate on STRC to 11.5%, with investors receiving monthly cash distributions. The payout is adjusted each month to keep the shares trading close to their $100 par value while limiting volatility.
In an 8-K filing on Monday, Strategy said it updated its Omnibus Sales Agreement to allow multiple sales agents to handle the same class of securities on a single trading day during pre-market or after-hours sessions. The change enables additional agents to facilitate early or late transactions, while block sales after 4 p.m. ET remain allowed.
Shares of Strategy (formerly MicroStrategy) were up roughly 3% in pre-market trading, with the stock changing hands near $143.
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