Strategy (formerly MicroStrategy) has revised its Omnibus Sales Agreement to allow several agents to sell the same security outside standard market 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 equity, 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 ongoing effort to accumulate more bitcoin. Trading activity surged during Monday’s session, with total volume approaching $300 million — well above the stock’s 30-day average of roughly $124 million, based on the company’s internal dashboard.
The estimated bitcoin purchase is calculated using a model that tracks at-the-market (ATM) equity sales. Under the methodology, about 40% of trading volume above $100 per share is assumed to represent ATM issuance, while a 2.5% broker commission is deducted before estimating how much bitcoin was acquired.
The latest purchase follows a much larger acquisition last week, when Strategy bought roughly $1.3 billion worth of bitcoin, adding nearly 18,000 BTC to its balance sheet.
Strategy has positioned STRC as a short-duration, high-yield investment product. The company recently raised the preferred stock’s dividend rate to 11.5%, with investors receiving monthly cash distributions. The payout is adjusted each month in an effort to keep the shares trading close to their $100 par value while minimizing price volatility.
In an 8-K filing released Monday, Strategy said it amended its Omnibus Sales Agreement to permit multiple agents to execute sales of the same class of securities during a single trading day in pre-market or after-hours sessions. The change allows additional agents to facilitate early or late trades, while block transactions after 4 p.m. ET remain allowed.
Shares of Strategy (formerly MicroStrategy) were up about 3% in pre-market trading, hovering around $143.
