Series V Explained
Each share of Series V is intended to be listed on a security exchange platform that utilizes blockchain technology to facilitate instantaneous trade settlement. We have applied to have our shares listed on Upstream exchange and are currently working through the application process. Upstream utilizes the Ethereum blockchain, which BTCS has been securing since 2021.
Distribution: Entitled common share stockholder will receive Series V shares on a 1:1 basis
Record Date:
Payment Date:
Ex-Date: Will be set by NASDAQ once DTC eligibility is confirmed
Transfer Agent: Equity Stock Transfer
BTCS CEO
BTCS believes exchanges built on blockchain technology should enable transparent public order books, eliminate failures to deliver, provide access to a global digital-first investor base, and enable direct-to-investor communications, distributions, and dividends.
Series V Details
The amended and restated Series V is: i) non-convertible, ii) perpetual, iii) has a 20% liquidation preference over our common stock, iv) eligible, at the discretion of the board, for dividends and/or distributions made to common holders, v) eligible, at the discretion of the board for, dividends and/or distributions up to 20% per annum, which the common shareholders would not be entitled to, vi) will be treated as common stock in the event of a reorganization such as a merger, and vii) non-voting.
The foregoing information is a summary of the amended Series V and related disclosures, is not complete, and is qualified in its entirety by reference to the full text of the amended and restated Series V Certificate of Designation (“Amended COD”) and risk factors included on a Form 8-K filed with the
About BTCS:
Forward-Looking Statements:
Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding the potential distribution of Series V including its timing, and terms, as well as the perceived and anticipated benefits to shareholders and the financial markets in general of the Series V and blockchain technology. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, the possibility that the Company does not proceed with the Series V distribution due to administrative, regulatory or other challenges, including failure to obtain a DTC eligible CUSIP number, the Company’s broad discretion with respect to the Series V, possible trading volatility, pricing discrepancies or other negative characteristics of the exchange selected for trading, including unanticipated consequences resulting from being on the selected exchange, dilution, future regulatory issues, market or economic downturns or other adverse developments with respect to our business and the digital assets on which it depends, as well as risks set forth in the Company’s filings with the
Investor Relations:
ir@btcs.com
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