Strategy (formerly MicroStrategy) has revised its Omnibus Sales Agreement to allow several sales agents to execute transactions in the same security outside standard trading hours, giving the company greater flexibility when issuing equity.
The firm — the largest publicly traded holder of Bitcoin — sold a record amount of its perpetual preferred shares, Stretch (STRC), on Monday. Proceeds from the issuance were used to acquire an estimated 1,420 BTC, according to figures compiled by STRC.live.
STRC, introduced in July 2025, plays a central role in Strategy’s bitcoin accumulation strategy. Trading in the preferred stock surged during Monday’s session, with total volume nearing $300 million — significantly above its 30-day average of about $124 million, based on data from the company’s dashboard.
The estimated bitcoin purchase is derived from a model that analyzes at-the-market (ATM) share sales. Under this approach, roughly 40% of trading volume above $100 per share is assumed to represent ATM issuance, while a 2.5% broker commission is deducted before calculating the implied bitcoin purchase.
The latest buy follows a much larger acquisition last week, when Strategy added nearly 18,000 BTC — worth 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 raised the dividend rate on the preferred shares to 11.5%, with investors receiving monthly cash payouts. The rate is adjusted each month to help keep the shares trading close to their $100 par value while limiting volatility.
In an 8-K filing Monday, Strategy said the updated Omnibus Sales Agreement allows multiple agents to sell the same class of securities during a single trading day in pre-market or after-hours sessions. The change enables additional agents to facilitate early or late trades, while block transactions after 4 p.m. ET remain permitted.
Shares of Strategy (formerly MicroStrategy) were up about 3% in pre-market trading, with the stock changing hands near $143.
