BTCS Inc. Commences Modified Dutch Auction Cash Tender Offer for Its Series V Preferred Stock at $0.04 to $1.00 per Share
BTCS has commenced a modified Dutch auction tender offer to buy back up to $500,000 of its Series V Preferred Stock at $0.04 to $1.00 per share, expiring December 15, 2026. The Series V shares were distributed one-for-one to common holders in June 2023 but have no trading market, so the wide price range lets holders set their own exit price; insiders will not tender.
Key figures
- Deal Value Usd
- 500000
- Offering Price
- $0.04 to $1.00 per share
- Expiration
- December 15, 2026, 5:00 p.m. ET
- Tender offer type
- modified Dutch auction
- Notepad restriction
- no Series V conversion while May 2025/July 2025 convertible notes outstanding; July 2025 notes mature July 21, 2027
- Series v distribution
- one-for-one to common holders on June 2, 2023
AI analysis
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