PANews, August 26 - According to an official announcement, the London-listed technology company The Smarter Web Company (SWC) has raised £3.7 million (approximately $5 million) through the latest subscription round, issuing 1,898,201 ordinary shares. Although the official announcement did not specify the use of the funds, there are reports that the company may plan to use part of the funds to purchase Bitcoin. The share issuance price is approximately £1.93 per share, and the company expects to receive about 97% of the net proceeds this week. The subscription activity was completed from August 11 to 22, and a new subscription agreement will be signed after the remaining 2,591,799 ordinary shares are issued.