Strategy sells MSTR shares, buys back $25M in STRC preferred stock

Strategy, the business intelligence firm that has built the largest corporate Bitcoin treasury, continued adjusting its capital structure last week through a combination of stock sales and preferred share repurchases.Strategy sold 5,429,160 shares of its Class A common stock (MSTR) through its at-the-market (ATM) offering program between July 20 and July 26, generating $544.5 million in net proceeds. The MSTR share price was up more than 2% in Monday’s premarket activity, according to Yahoo Finance. The STRC preferred shares were up 2.3% to $88.90 ahead of the Nasdaq open.The company also repurchased 288,930 shares of its STRC preferred stock for $25 million, according to a Form 8-K filed with the US Securities and Exchange Commission on Monday.The update comes after Strategy executive chairman Michael Saylor sparked speculation on Sunday with his “We’re gonna need another color” post on X, which some market observers interpreted as a hint at a new move involving the company’s preferred stock strategy.Source: Michael Saylor on X.comStock sales boost dollar reserve $3.75BFollowing additional capital raised through its ATM stock offering program, Strategy increased its US dollar rese...