BTCS amends Series V Preferred Stock for 1:1 distribution to common shareholders

BTCS Inc.

Series V amended to be non-convertible, perpetual, with 20% liquidation preference over common stock.
Record date for Series V distribution: May 12, 2023; payment date: June 2, 2023.
Distribution contingent on DTC-eligible CUSIP; applied for listing on Upstream exchange.
Series V eligible for discretionary dividends up to 20% per annum, not available to common holders.
Board retains right to cancel dividend at any time; distribution not guaranteed.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

BTCS Inc.: Filed a Certificate of Amendment to the Certificate of Designation for Series V Preferred Stock, changing convertibility, duration, liquidation preference, and dividend rights (effective 2023-04-17).

Change: charter amendment
Effective: 2023-04-17

Exact text from the filing

On April 14, 2023, BTCS Inc. (the “Company”) filed a Certificate of Amendment to its Certificate of Designation (the “Amendment”) for its Series V Preferred Stock (the “Series V”) related to the previously announced dividend (the “Dividend”) payable in shares of Series V. The Amendment was accepted by the Secretary of State of the State of Nevada on April 17, 2023.

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BTCS Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-012844

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