Smarter Web Company wins shareholder approval for UK's first BTC-backed preferred stock
- —Shareholder approval exceeded 99.8%; new shares will trade under ticker MORE
- —Target raise is £15–25 million with a £10 million floor
- —Company holds about 2,878 BTC, the largest disclosed treasury among LSE-listed firms
- —TD Cowen raised its SWC price target to £0.73 from £0.64, keeping a Buy rating
Why it matters: The first UK-listed instrument of its kind could pave the way for other public firms to fund Bitcoin treasuries via preferred stock.
Source: Crypto Briefing