The Smarter Web Company, a listed company in the UK, has completed a fundraising round of 21 million USD through Bitcoin-denominated bonds, initiating a groundbreaking funding model.
The Smarter Web Company, a listed company in the UK pursuing a Bitcoin accumulation strategy, has made significant progress in the London capital market. This enterprise has successfully raised 21 million USD (equivalent to 15.8 million GBP) through the issuance of bonds entirely denominated in Bitcoin – a pioneering and rare financial product in the market.
The issuance achieved a registration rate of 100% with the main underwriting from the French asset management group Tobam. Collaborating with Tobam – an organization managing over 2 billion USD in assets and having experience in digital assets since 2017 – has reinforced the reliability of this issuance.
The product named “Smarter Convert” is designed to create long-term benefit links between investors and the issuing company. CEO Andrew Webley noted that this structure is appearing for the first time in the UK capital market and hopes it will open up a new capital segment for businesses.
The operational mechanism of the bonds reflects a sophisticated combination of traditional finance and digital assets. This instrument has a term of 12 months, denominated in Bitcoin, and the ability to convert into company shares with a premium fee of 5% compared to the reference closing price. This structure allows the company to raise capital with a dilution level of approximately 5% lower than direct equity issuance.
In the event that bondholders do not exercise their conversion rights, the company will pay 98% of the face value in Bitcoin at maturity, with the value adjusted according to the current BTC exchange rate. Notably, the company maintains the right to force conversion when the stock price rises sharply. This structure not only optimizes funding efficiency but also supports the company in increasing its Bitcoin reserves on the balance sheet.
The move occurs in parallel with the company actively expanding its Bitcoin portfolio, raising the total holdings to 2,050 BTC, worth approximately 234 million USD, affirming its position among companies implementing a clear Bitcoin strategy in the stock market.
