Subscription Agreement Update - £2.2m Proceeds
The Smarter Web Company PLC has sold 2,883,000 ordinary shares under its Subscription Agreement, generating gross proceeds of £2,163,160, or approximately £0.75 per share, with the company receiving about 98.25% of these proceeds. The company plans to use a portion of the net proceeds to reduce its outstanding strategic credit facility with Coinbase from approximately £19.0 million to £17.0 million. The remaining unsold shares under the agreement total 38,330,788.
Select text to share a quote on X · sign in to keep highlights & notes in your SWC notes
The Smarter Web Company announces that 2,883,000 Ordinary Shares have been sold in accordance with the terms of the Subscription Agreement announced on 24 December 2025 (the “Subscription Agreement”).
The gross proceeds from the sale of these shares will be £2,163,160, equivalent to approximately £0.75 per share, and the Company will receive approximately 98.25% of these proceeds in accordance with the terms of the Subscription Agreement. The balance of Ordinary Shares issued under the Subscription Agreement which have not yet been sold is 38,330,788.
Coinbase Strategic Credit Facility
The Company intends to use some of the net proceeds from the sale of the Subscription Shares to reduce the outstanding amount under its strategic credit facility with Coinbase from approximately £19.0 million to approximately £17.0 million following receipt of funds.
The Company continually reviews its capital allocation priorities and will deploy proceeds from capital raises in accordance with those priorities at the relevant time. The Company will continue to provide updates on any material drawdowns or repayments in future regulatory announcements. The loan remains secured against the Company’s existing Bitcoin holdings and is repayable without additional charges at the Company’s discretion.
Follow the Company on X: https://x.com/smarterwebuk
The Smarter Web Company's Legal Entity Identifier (LEI) is 213800VQO9FUG4PZMP73.
The Directors of the Company accept responsibility for the contents of this announcement.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.