Smarter Web shareholders greenlight Bitcoin-backed preferred shares

The company intends to raise between £15 million and £25 million through this offering, which would mark the first sterling-denominated perpetual preferred share on the LSE Main Market from a UK-incorporated firm with a Bitcoin treasury strategy. Under the proposed structure, these non-voting securities would pay a cumulative variable rate dividend on a weekly basis, providing the company with an alternative financing route as it continues to expand its digital asset holdings.

CEO Andrew Webley positioned the initiative as a tool to diversify the company's capital structure and broaden its investor base. While the shareholder vote is a significant milestone, the offering remains subject to several conditions, most notably the approval of a prospectus by the UK Financial Conduct Authority. The firm must also secure at least three market makers and ensure that a minimum of 50% of the shares are held by the public to proceed.

Smarter Web has historically relied on equity sales, convertible financing, and Bitcoin-backed borrowing to fund its operations. By introducing this preferred share class, the company aims to move away from convertible instruments—a shift underscored by the recent repayment of its $11.7 million Smarter Convert debt. With a current treasury of 2,747 BTC, the firm maintains that its Bitcoin-focused strategy remains the cornerstone of its long-term financial planning.