SmartWeb to Raise Up to £25 Million via Permanent Preferred Shares on London Stock Exchange

More Smart Web Company (SWC) is advancing a plan to issue perpetual preferred shares on the London Stock Exchange Main Market to raise up to £25 million. The target fundraising amount ranges from £15 million to £25 million. On November 11, More Smart Web Company disclosed in a regulatory filing that it is considering issuing new preferred shares and listing them on the London Stock Exchange Main Market. The preferred shares will carry the ticker 'MORE' and feature cumulative variable interest rates with weekly preferred dividends and liquidation preference, but no voting rights. The company intends to use the funds raised for long-term capital and acquisition and operational expenses while continuing its Bitcoin financial strategy. Approval from a shareholder meeting scheduled for November 28 and FCA approval of an investment prospectus are required for the issuance.