The Smarter Web Company Wins Approval for UK’s First BTC-Backed Preferred Shares
Shareholders approved plans for MORE, while the company expects to raise $20 million to $33 million through an IPO for additional Bitcoin purchases and operating businesses.
The Smarter Web Company won shareholder approval to launch MORE, which the company describes as the UK’s first Bitcoin-backed preferred shares, marking a new corporate-finance structure tied to Bitcoin (BTC).
The UK-based Bitcoin treasury company expects to raise between $20 million and $33 million through an initial public offering. The planned proceeds would fund additional Bitcoin purchases and cash-generating operating businesses.
The approval clears the way for the company to move ahead with MORE, but the preferred shares have not yet launched. The plan links a publicly offered security to a corporate Bitcoin treasury while also directing capital toward operating activities.
The shareholder vote and proposed IPO position The Smarter Web Company among companies using public-market financing to expand Bitcoin holdings and business operations.
