Strategy Inc — Form 10-Q

Strategy Inc (formerly MicroStrategy) entered into an omnibus sales agreement dated November 4, 2025, with 17 financial agents (TD Securities, Barclays, Morgan Stanley, et al.) to conduct at-the-market (ATM) offerings of common stock and four series of preferred stock (STRF, STRC, STRK, STRD). The agreement consolidates and replaces prior separate sales agreements dating to May 2025. No specific aggregate dollar cap is stated in the base agreement; caps are set per program via issuance notices. The agreement permits sales via multiple channels (block trades, negotiated, on-market). Two technical amendments followed (Feb, Mar 2026); three new agents were added (Moelis, Alliance Global, StoneX) via joinders on March 23, 2026. The Benchmark Company's participation was terminated November 1, 2026, due to acquisition by StoneX.