Smarter Web Company raises $13.2M through preferred share offering

UK Bitcoin treasury company Smarter Web Company raised £10 million ($13.2 million) through a new preferred share offering, The Crypto Basic reported. The company plans to list the new MORE preferred shares on the London Stock Exchange Main Market on Oct. 14. The initial weekly dividend for MORE was set at £0.2301 per share, with an initial annual dividend rate of 12% based on a £100 reference amount, while unpaid dividends will accrue. As of September, Smarter Web Company held 2,470 BTC worth $275 million.