The Smarter Web Company, a UK bitcoin treasury company, has received shareholder approval to launch MORE, described as the first preferred stock in the UK backed by bitcoin. The update points to a new capital-markets product tied directly to the company’s bitcoin strategy.
The company also expects to raise between $20 million and $33 million through an initial public offering. According to the brief, the proceeds are intended for two uses: buying additional bitcoin and acquiring operating businesses that can generate cash flow.
The information was cited by Odaily, which referenced Bitcoin Treasuries. No further details on the structure, timing, or listing venue of the preferred stock were disclosed in the source text.
The Smarter Web Company, a UK bitcoin treasury company, has secured shareholder approval to launch MORE, which the source described as the first preferred stock in the UK backed by bitcoin.
The company also expects to raise $20 million to $33 million through an IPO. The proceeds are slated for additional bitcoin purchases and operating businesses that generate cash flow.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
