I'd recommend to have a look at the last quarterly filed by BTCS (can be downloaded from their website): the total number of authorized shares is in excess of 450 million. I think the proposed merger by BGL dictates that BGL will attain 75% of all shares (on a fully diluted basis), whilst the current management of BTCS will acquire 12% of all shares on a fly diluted basis.
The merger should result in a significant dilution, so the current number of shares outstanding is irrelevant.
But I still think there's a lot of money to be made from the merger. Similarly to BGL's investment in DCC, the dilution still resulted in excellent value for existing shareholders.
DCC Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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