08:46 AM EDT, 03/10/2025 (MT Newswires) -- MicroStrategy ( MSTR ) said Monday it has launched an up to $21 billion at-the-market offering for its 8% Series A perpetual strike preferred stock, which is convertible into Class A common shares.

Net proceeds will be used for general corporate purposes, including bitcoin purchases and working capital, the company said.

The company's shares were down more than 5% in recent Monday premarket activity.