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BTC Smarter Web plans to raise £ 15 million to £ 25 million through preferred shares for Bitcoin treasury reserves
Core points:
- Smarter Web plans to raise £ 15 million to £ 25 million by issuing a new MORE series of preferred shares.
- The company currently holds approximately 2,747 bitcoins and has a treasury position in Bitcoin from the UK's largest listed company.
- Preferred shares will have no voting rights, but will include liquidation preferences.
- The ordinary shareholders 'meeting is scheduled to be held in Bristol on September 28, 2026.
Smarter Web targets £ 15 million to £ 25 million in Bitcoin treasury financing
Smarter Web has confirmed its plans related to the issuance of new preferred shares, which are tied to its Bitcoin assets. The British company disclosed the move through a Regulatory News Service (RNS) announcement on September 11, 2026. Approval from the UK's Financial Conduct Authority (FCA) still needs to be obtained before any listing process can be initiated. Currently, the company already holds the Bitcoin treasury of the UK's largest listed company.
The reserved code for new financial instruments is "MORE". If the issuance proceeds smoothly, the company expects to raise between £ 15 million and £ 25 million. The proceeds will support the company's ongoing bitcoin accumulation strategy, known internally as the "ten-year plan."
Smarter Web described the stakes as a potential "first-of-its-kind" product. The announcement pointed out that no other company registered in the UK has issued perpetual preferred shares backed by Bitcoin treasury, denominated in sterling and traded on the main market of the London Stock Exchange. This proposition forms the core content of this announcement.
CEO Andrew Webley said the announcement was an important milestone for the company. He pointed out that the issuance of preferred shares will expand the investor base that can support the company. He wrote on social media: "Today's announcement marks an important step for Smarter Web. After the prospectus is approved by the FCA, formally launched, and all possible initial public offering conditions are met, we expect the proposed preferred stock to be the first of its kind in the UK: a sterling denominated..."
Webley added that this structure gives the company greater flexibility in different market conditions.
Smarter Web started out as a web design company and subsequently gradually established a position of approximately 2,747 bitcoins. This position makes it the largest publicly listed corporate Bitcoin holder in the UK.
Preferred Stock Terms and Shareholders 'Meeting Details
The prospectus still needs to be approved by the FCA before a possible IPO can proceed. Once approved, the company will issue a prospectus and provide further updates. Shares will be traded in the official list of non-equity and non-voting equity classes.
If formally issued, preferred shares will enjoy a weekly dividend with a cumulative variable interest rate. Holders will also enjoy liquidation preference over ordinary shareholders. The company reserves the right to redeem shares at its discretion.
Unlike ordinary shares, preferred shares do not have voting rights at shareholders 'meetings. This distinction distinguishes holders of MORE series preferred shares from existing Smarter Web shareholders.
In addition to the RNS update, the company also issued a general meeting circular for ordinary shareholders. The meeting is scheduled to take place on September 28, 2026 at 10:00 a.m. at 160 Aztec West, Almondsbury, Bristol. The par value of each common share is only £ 0.001.
