BTCS Inc. Announces Delay in Series V Preferred Key Dates
23 Marzo 2023 - 7:15AM
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
cryptocurrency portfolios across exchanges, wallets, validator
nodes, and other sources; and have access to a suite of data
analytic tools such as performance and reward tracking.
StakeSeeker’s Staking Hub allows users to earn rewards by directly
participating in network consensus mechanisms by staking and
delegating their cryptocurrencies to company-operated validator
nodes for a growing number of supported blockchains. As a
non-custodial validator operator, BTCS receives a percentage of
token holders staking rewards generated as a validator node fee,
creating the potential opportunity for a highly scalable business
with limited additional costs. For more information visit:
www.btcs.com.
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, 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 Securities and Exchange Commission
including its Form 10-K for the year ended December 31, 2021 and
the Form 8-K on January 31, 2023. Thus, actual results could be
materially different. The Company expressly disclaims any
obligation to update or alter statements, whether as a result of
new information, future events or otherwise, except as required by
law.
Investor Relations:ir@btcs.com
Public Relations: Mercy Chikowore m.chikowore@btcs.com
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