Strategy (MSTR) Announces $2.1 Billion STRF At-The-Market Program

Strategy™ (Nasdaq: MSTR; STRK; STRF) today announced that it has entered into a sales agreement pursuant to which Strategy may issue and sell shares of its 10.00% Series A Perpetual Strife Preferred Stock, $0.001 par value per share (the “perpetual strife preferred stock”), having an aggregate offering price of up to $2.1 billion (the “ATM Program”).

Strategy expects to make sales of perpetual strife preferred stock pursuant to the ATM Program in a disciplined manner over an extended period, taking into account the trading price and trading volumes of the perpetual strife preferred stock at the time of sale.

Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of bitcoin, and for working capital.

The perpetual strife preferred stock, subject to the terms and conditions of the sales agreement, may be sold by agents by any method that is deemed an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended or any other method permitted by law, which may include negotiated transactions or block trades.

The sale of perpetual strife preferred stock under the ATM Program is only offered pursuant to a prospectus supplement, filed with the Securities and Exchange Commission on May 22, 2025 under the existing automatic shelf registration statement, which became effective on January 27, 2025 (File No. 333-284510), and the base prospectus contained therein.

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