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GlobeNewswire·

BTCS Inc. Commences Modified Dutch Auction Cash Tender Offer for Its Series V Preferred Stock at $0.04 to $1.00 per Share

  • BTCS Inc. announced a cash tender offer to purchase up to $500,000 worth of its Series V Preferred Stock at a price between $0.04 & $1.00 per share.
  • The Offer utilizes a modified Dutch auction where holders specify a price within the range or elect to tender at the final purchase price.
  • The final purchase price will be the lowest single price allowing the Company to buy up to $500,000 worth of shares, with all accepted shares purchased at that uniform price.
  • Shares tendered above the final purchase price will not be accepted, & oversubscribed shares will be purchased on a pro rata basis.
  • The Offer expires at 5:00 p.m. New York City time on December 15, 2026, & tendered shares may be withdrawn before this date.
  • Series V Shares were distributed one-for-one to common stockholders on June 2, 2023, & currently have no established trading market.
  • The Company cannot convert Series V Shares to common stock until the July 2025 convertible notes mature on July 21, 2027.
  • Company directors & executive officers have confirmed they will not tender any Series V Shares in this Offer.
  • InvestorCom LLC serves as the information agent, & Equity Stock Transfer, LLC acts as the depositary for the transaction.
  • No recommendation is made regarding whether holders should tender shares, & holders are advised to consult their own financial, tax, & legal advisors.