Strategy Unloads MSTR Shares, Repurchases Preferred Stock Worth $25M

Strategy, the business intelligence firm behind the largest corporate Bitcoin treasury, has continued to adjust its capital structure. The company sold 5.4 million shares of its Class A common stock (MSTR) through an at-the-market offering program between July 20 and July 26, generating $544.5 million in net proceeds.

The MSTR share price was up over 2% in Monday's premarket activity, while the STRC preferred shares were up 2.3% to $88.90 ahead of the Nasdaq open.

Strategy also repurchased 288,930 shares of its STRC preferred stock for $25 million, according to a Form 8-K filing with the US Securities and Exchange Commission on Monday.

The company's cash reserve has increased to $3.75 billion as of July 26, following additional capital raised through its ATM program.