Saylor’s Strategy (MSTR) Arms Itself With $44.1 Billion ATM Capacity to Fuel Bitcoin Treasury Expansion
Strategy has moved to sharply expand its capacity to raise capital through at‑the‑market equity and preferred offerings, adding new Wall Street agents and reshaping its preferred stock authorization to favor a key floating‑rate series.
Strategy’s new ATM programs and size
Both certificates were adopted by the board’s Pricing and Financing Committee under authority granted in the company’s Second Restated Certificate of Incorporation and Section 151(g) of the Delaware General Corporation Law.
Strategy also said they secured legal opinions confirming that its new ATM shares — both common and preferred — will be validly issued, fully paid, and non-assessable.
The 8‑K clarifies that no offers or sales are happening yet, and any actual issuances will depend on market conditions, investor demand, and internal decisions.
Overall, the expanded ATM programs and reallocated preferred shares give Strategy flexibility to raise capital while prioritizing floating‑rate preferred issuance over the 8.00% STRK series.
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