Smarter Web Unveils Plans for UK's First Bitcoin-Firm Preferred Share Listing
Smarter Web Company (LON: SWC), the UK's largest listed Bitcoin treasury holder, is planning to launch a new class of preferred shares called 'MORE' on the London Stock Exchange. The company aims to raise between £15 million and £25 million in gross proceeds through this listing.
The MORE preferred share will have a nominal value of £0.001 each and offer a cumulative variable rate weekly preferential dividend, plus a liquidation preference and a company option to redeem. However, it does not confer general meeting voting rights to holders.
Smarter Web's CEO Andrew Webley left the door open for potential benefits from fiat and Bitcoin-denominated convertibles after reviewing its position on these capital solutions. The company plans to use the raised funds for revenue-generating web businesses acquisitions, general working capital, and to continue building its Bitcoin treasury.