UK’s The Smarter Web Company raises $56M days after big Bitcoin buy
UK-based The Smarter Web Company has made a multimillion-dollar raise just days after it purchased $20 million worth of Bitcoin to bring its holdings to over 540 BTC.
UK-based web design and marketing firm The Smarter Web Company has raised 41.2 million British pounds ($56.59 million), days after it purchased 196 Bitcoin to add to its growing holdings.
The firm said on Thursday that the raise came from institutional investors via accelerated bookbuild, a process where a company raises capital quickly, usually within one or two days, without any marketing push.
The Smarter Web Company raised 36.27 million British pounds ($49.8 million) with the bookbuild and a further 4.97 million British pounds ($6.82 million) by subscription. The offer price was 2.9 British pounds ($3.98) per share.