Business
BTCS Inc. Announces Delay in Series V Preferred Key Dates
Silver Spring, MD, March 23, 2023 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, is
About this update from Btcs Inc.
[{"type":"text","content":"Silver Spring, MD, March 23, 2023 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, is providing an update to shareholders regarding the previously announced distribution of its newly created Series V Convertible Preferred stock (“Series V”). Due to anticipated changes to the structure, the Company will be delaying the key dates associated with the Series V distribution. Charles Allen, CEO of BTCS, commented, “We understand that delays are not ideal and appreciate your understanding as we work through any potential changes required. Our primary objective remains to protect our investors and deliver superior value. We believe the Series V represents an important step in achieving this goal by utilizing blockchain technology and instant settlement, which has the potential to reduce risks and costs associated with both current T+2 and future T+1 settlements. We appreciate your patience as we work diligently with Nasdaq to make any changes required to move things forward as quickly as possible.” The updated key dates and additional information will be announced as soon as any necessary changes are finalized. The Company is actively working with Nasdaq and other relevant parties to ensure a smooth process moving forward. Previously announced key dates, including the Record Date of March 27, 2023, and Payment Date of April 14, 2023, will be revised accordingly. The Ex-Date will be set by NASDAQ once DTC eligibility is confirmed. Equity Stock Transfer will continue to act as the transfer agent for the Series V distribution. About BTCS: BTCS Inc. is a Nasdaq listed company operating in the blockchain technology space since 2014 and is one of the first U.S. publicly traded companies with a primary focus on blockchain infrastructure and staking. BTCS secures and operates validator nodes on disruptive next-generation blockchain networks that power Web 3, earning native token rewards by staking our proof-of-stake crypto assets. “StakeSeeker” is BTCS’ newly introduced proprietary Cryptocurrency Dashboard and Staking-as-a-Service platform, developed to empower users to better understand and grow their crypto holdings with innovative portfolio analytics and a non-custodial process to earn staking rewards on crypto asset holdings. Users can easily link and monitor their cryptocurren...