Strategy (formerly MicroStrategy) has updated its Omnibus Sales Agreement to allow multiple sales agents to execute transactions in the same security outside regular market hours, expanding the company’s flexibility when issuing equity.

The firm — the largest publicly traded holder of Bitcoin — sold a record amount of its perpetual preferred shares, Stretch (STRC), on Monday. Proceeds from the issuance were used to acquire an estimated 1,420 BTC, according to data tracked by STRC.live.

STRC, which launched in July 2025, is a central part of Strategy’s effort to steadily accumulate bitcoin. Trading activity in the preferred stock surged during Monday’s session, with total volume approaching $300 million — well above the 30-day average of about $124 million, based on figures from the company’s dashboard.

The estimated bitcoin purchase is derived from a model that analyzes at-the-market (ATM) equity sales. The methodology assumes that roughly 40% of trading volume above $100 per share reflects ATM issuance, while subtracting a 2.5% broker commission before calculating the implied bitcoin buy.

The latest purchase follows a significantly larger acquisition last week, when Strategy bought nearly 18,000 BTC valued at roughly $1.3 billion.

Strategy has described STRC as a short-duration, high-yield investment product. The company recently increased the dividend rate on the preferred shares to 11.5%, with investors receiving monthly cash payouts. The dividend is adjusted each month to keep the shares trading close to their $100 par value while limiting price volatility.

In an 8-K filing released Monday, Strategy said the revised Omnibus Sales Agreement allows multiple agents to sell the same class of securities during a single trading day in pre-market or after-hours sessions. The update enables additional agents to handle early or late transactions, while block trades after 4 p.m. ET remain permitted.

Shares of Strategy (formerly MicroStrategy) were up roughly 3% in pre-market trading, changing hands near $143.