UK Bitcoin Treasury Firm Smarter Web Closes £10M Share Offering

The Smarter Web Company has raised £10 million ($13.2 million) in the initial public offering (IPO) of its new preferred shares, which start trading on the London Stock Exchange’s Main Market under the ticker MORE at 8:00 a.m. on Wednesday, October 14. That is £5 million ($6.6 million) below the bottom range in the company’s prospectus, a shortfall the CEO has acknowledged. According to Monday’s announcement , the institutional offer brought in £2.4 million, or just over $3.1 million, and the retail offer £7.6 million ($10 million), roughly 75% of the total as noted by CEO Andrew Webley.