BTCS Announces $2.3 Million Financing With Management Participation

ARLINGTON, VA, Apr 22, 2015 (Marketwired via COMTEX) — Bitcoin Shop, Inc. (otcqb:BTCS) (“BTCS” or the “Company”), a blockchain technology focused company which engages in transaction verification services and which is undertaking the build-out of a universal digital currency ecosystem, announced today that it closed on a financing for aggregate gross proceeds of $2,312,500. The Company sold 7,708,342 units consisting of one share of common stock and 1.4 warrants at a per unit price of $0.30. The warrants are exercisable into an aggregate of 10,791,684 shares of common stock at a per share price of $0.375. Charles Allen our CEO, Michal Handerhan our COO and Charlie Kiser our EVP invested an aggregate of $42,500 in the financing.
Charles Allen, CEO of BTCS, commented, “We believe the sustained decline in the price of Bitcoin has created tremendous opportunities for us to further expand our business and seize opportunities created from the market downturn. With the completion of this financing we believe we are well positioned to be a leading bitcoin and blockchain focused company.”

This post was published at Market Watch on Apr 22, 2015.