According to its September 29 Form 8-K, Strategy Inc. (NASDAQ: MSTR) raised $128.1 million through its at-the-market programs between September 22–28 but deployed just $22.1 million into 196 BTC. The bulk of proceeds are likely for preferred stock dividends, which will be paid on September 30. As of September 28, Strategy’s aggregate bitcoin holdings stood at 640,031 BTC.
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Strategy sold 101,713 shares of its 10.00% Series A perpetual “STRF” preferred stock and 5,000 shares of its 10.00% Series A perpetual “STRD” preferred, alongside 347,352 shares of common stock (MSTR), generating combined net proceeds of $11.3 million, $0.4 million and $116.4 million, respectively. Strategy’s total ATM net proceeds were $128.1 million.
In the same week, Strategy used proceeds from its STRF, STRD, and MSTR ATMs to acquire 196 BTC at an aggregate cost of $22.1 million (average price $113,048 per BTC).
There’s still plenty of room on Strategy’s ATM, with available issuance authorization totaling $46.4 billion across its preferred and common stock offerings.
Read More: Strategy logs its 80th Bitcoin purchase, adds 850 BTC after tapping STRF and MSTR ATM
At time of publication, MSTR is up 3.9% from yesterday’s close.
