UK-Based Tech Company The Smarter Web Company is Preparing to Raise Capital to Acquire Bitcoin! Here Are the Details

UK-based technology company The Smarter Web Company has announced the launch of Smarter Convert, its new and innovative financing tool designed for raising capital.

The Smarter Web Company Launches $21 Million Bitcoin Bond

This instrument, a structured, interest-free, strategic convertible bond denominated in Bitcoin, was fully acquired by the French asset management firm TOBAM with an investment of $21 million.

Founded in 2006 by Yves Choueifaty, TOBAM has been active in the Bitcoin space since 2016. Its Smarter Convert structure aims to both protect investors and ensure incentive alignment among stakeholders.

TOBAM participated in this investment through three different funds it manages. The company plans to issue similar bonds using the same structure in the future.

Basic Features of the Bond:

• Conversion Share Price: Investors will be able to convert into company shares at a 5% premium to the reference share price.
• Mandatory Conversion: After the 6-month period, the company may make conversion mandatory if the share price rises 50% above the conversion price and maintains this level for 10 trading days.
• Downside Protection: The company offers investors a 98% refund guarantee if the bond is not converted into shares within 12 months.
• Bitcoin-Based Repayment: The bond's primary currency is Bitcoin. This means the repayment amount at maturity will vary based on the Bitcoin price. If Bitcoin rises, the repayment increases; if it falls, it decreases. However, the conversion price remains constant in GBP (British Pound).

Smarter Convert allows the company to increase its Bitcoin reserves by raising capital above market prices. However, the amount of Bitcoin acquired through this bond structure will be limited to approximately 30% of the company's existing cash reserves. This step is part of a measured and cautious growth strategy.

*This is not investment advice.