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Smarter Web Company completes £10M Bitcoin-backed share sale
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2026-09-29 10:23 UTC → 2026-10-12 23:02 UTC ·
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Smarter Web Company completes £10M Bitcoin-backed share launch sale
The Smarter Web Company, the largest listed Bitcoin treasury holder in the United Kingdom, announced plans to launch has completed a new class £10 million offering of its ‘MORE’ non-voting preferred shares on shares. While the London Stock Exchange. Titled ‘MORE’, these shares are designed to provide investors with exposure to a Bitcoin balance sheet through a ‘cumulative variable rate weekly preferential dividend’ and a liquidation preference. The company initially aimed offering met the minimum requirement to raise between proceed, the total fell below the company’s initial target range of £15 million and to £25 million in gross proceeds. Following the announcement, million. Of the company’s stock price increased by over 15%. Subsequently, £10 million raised, retail investors contributed £7.6 million and institutional investors provided £2.4 million. Chief Executive Andrew Webley noted that institutional demand was “disappointing.” After expenses, the company received shareholder approval for the launch, with over 99.8% expects net proceeds of voters in favor. The revised fundraising target is between £10 approximately £8.3 million. These funds are allocated toward £4 million for additional Bitcoin purchases, £500,000 for business growth, and £25 million, with proceeds intended approximately £3.85 million for working capital and general corporate purposes, including dividend reserves. The MORE shares, which are scheduled for admission to expand the firm’s Bitcoin holdings as part London Stock Exchange on October 14, feature a cumulative variable dividend starting at an annual rate of its ‘10-Year Plan’. 12%. The official launch of first weekly dividend is expected by November 9. This instrument marks the first time preferred shares remains contingent upon approval from a Bitcoin treasury company have listed on a main market outside the Financial Conduct Authority. United States. The company’s Bitcoin holdings currently stand at 2,747 BTC, supporting its ongoing ‘10-Year Plan’ for Bitcoin accumulation.
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- 2026-10-12 23:02 UTC Smarter Web Company completes £10M Bitcoin-backed share sale
- 2026-09-29 10:23 UTC Smarter Web Company Bitcoin-backed share launch
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