MicroStrategy (MSTR) has significantly expanded its capital-raising capacity to a total of $42 billion through two separate "at-the-market" (ATM) equity programs, according to an 8-K filing. The expansion is split evenly, with $21 billion allocated for Class A common stock (MSTR) and another $21 billion for its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
The company also introduced a new $2.1 billion ATM program for its STRK preferred stock, replacing a prior STRK program that still had over $20 billion in remaining capacity. To facilitate these expanded offerings, MicroStrategy has broadened its sales syndicate, adding Moelis & Company, A.G.P./Alliance Global Partners, and StoneX Financial as agents. This brings the total number of intermediary firms to 19, enabling the company to raise capital gradually over time rather than through large, one-time offerings.
As of March 22, 2026, MicroStrategy still had substantial capacity remaining on its existing ATM programs. This included approximately $6.24 billion for common stock, $1.98 billion for STRC, $20.33 billion for STRK, and $1.62 billion for STRF available for future issuance. The company has already sold over 22 million STRC shares, generating more than $2.22 billion, with nearly $1.98 billion still available under that earlier allocation.
The STRC preferred stock carries a fixed liquidation preference of $100 per share and generates cumulative dividends that accrue monthly. The dividend rate, which started at 9.00% annually in mid-2025, has been adjusted periodically and reached 11.50% as of March 2026. The company retains discretion to revise the rate within defined limits.
This capital expansion directly supports MicroStrategy's ongoing Bitcoin acquisition strategy. The company recently purchased another 1,031 Bitcoin, bringing its total holdings to 762,099 coins. Following the announcement, MSTR stock rose 1.98% to $138.34 during intraday trading, while Bitcoin traded slightly higher from its Friday close at $71,300.
