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BTC The Smarter Web Company PLC plans to issue new perpetual preferred shares to consolidate Bitcoin's treasury strategy.
The Smarter Web Company PLC (London Stock Exchange: SWC), a UK-listed digital services group, announced that it will use Bitcoin as its main treasury reserve asset. The company disclosed on September 11, 2026 that it was preparing to launch an initial public offering of a new class of perpetual preferred shares on the main market of the London Stock Exchange.
The proposed financing target this time is 15 million to 25 million pounds. To ensure a smooth listing, the minimum funding amount needs to reach 10 million pounds.
The proposed issuance of "MORE" series of preferred shares
This new security will use the trading symbol "MORE". According to the terms, the shares enjoy weekly preferential dividends with cumulative variable rates, liquidation preferences and redemption rights held by the company, but do not have the right to vote at shareholders 'meetings.
Currently, a circular convening the ordinary shareholders 'meeting has been issued, and the meeting is scheduled to be held on September 28, 2026 at 10:00 a.m. A resolution will be submitted at that time authorizing the creation of such shares. The company also reminded investors that "there is no guarantee that preferred shares will be issued, nor that the company will conduct a possible IPO or be approved for listing," which still requires approval from the Financial Conduct Authority (FCA) for the prospectus.
The Bitcoin Treasury Strategy Behind
The Smarter Web Company serves more than 500 customers through web design, development and digital marketing, and combines the acquisition of cash-flow-generating companies with a Bitcoin treasury policy. Its common shares are traded under the symbol SWC on the main board of the London Stock Exchange and under the symbol TSWCF on the U.S. OTCQB Risk Market.
The company stated that recurring operating cash flow, large cash reserves, Bitcoin treasury and access to open capital markets are all considered potential sources that could be used to pay preferred stock dividends. CEO Andrew Webley said the proposed shares were "the first in the UK: a sterling denominated perpetual preferred stock listed on the main board of the London Stock Exchange issued by a U.K. registered commercial company with a Bitcoin treasury strategy."
Preferred Capital and Bitcoin Treasury Trends
This move continues the model of corporate bitcoin holders using preferred equity to raise long-term capital without diluting common shareholders. For example, Strategy, the largest corporate Bitcoin holder, has issued multiple series of perpetual preferred shares to fund its Bitcoin strategy.
The Smarter Web Company said that the proceeds from this financing will be used to support the acquisition, working capital needs of income-based companies, and achieve its broader goal of increasing Bitcoin holdings per share over time.
