UK Bitcoin Treasury Firm Smarter Web Closes £10M Share Offering
💰 The Smarter Web Company raised £10 million ($13.2 million) in its IPO for preferred shares, starting trading on the London Stock Exchange under the ticker MORE on October 14, though this amount fell short of initial targets.
👥 Retail investors contributed significantly, providing £7.6 million ($10 million), while institutional investors only brought in £2.4 million ($3.1 million), leading to CEO Andrew Webley expressing disappointment in institutional demand.
📈 The company plans to use the proceeds for working capital, Bitcoin acquisitions, and operational costs, while also aiming to pay the first weekly dividend from a London-listed commercial firm by November 9.
💰 The Smarter Web Company raised £10 million ($13.2 million) in its IPO for preferred shares, starting trading on the London Stock Exchange under the ticker MORE on October 14, though this amount fell short of initial targets.
👥 Retail investors contributed significantly, providing £7.6 million ($10 million), while institutional investors only brought in £2.4 million ($3.1 million), leading to CEO Andrew Webley expressing disappointment in institutional demand.
📈 The company plans to use the proceeds for working capital, Bitcoin acquisitions, and operational costs, while also aiming to pay the first weekly dividend from a London-listed commercial firm by November 9.