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Smarter Web Company PLC ( (GB:SWC) ) has issued an update.
The Smarter Web Company PLC, which focuses on web design, development and online marketing services supported by recurring hosting and marketing fees, is seeking to scale both organically and through selective acquisitions aimed at boosting client numbers and predictable income streams. The business also holds a portion of its treasury reserves in Bitcoin, an approach it describes as innovative but one that exposes shareholders to significant crypto-market risk.
The company has raised gross proceeds of about £542,897 through the placing of 1,414,047 new ordinary shares under its previously announced subscription agreement, at roughly £0.38 per share, with around 98.25% of the funds payable to the company after settlement adjustments. Following this tranche, more than 57 million ordinary shares remain available to be placed under the agreement, giving the company further potential funding capacity as it pursues its growth and acquisition plans within a context of elevated exposure to Bitcoin price movements.
More about Smarter Web Company PLC
The Smarter Web Company PLC is a UK-based provider of web design, web development and online marketing services, generating revenue from initial project fees, annual hosting charges and optional monthly marketing subscriptions. The company is pursuing organic growth alongside an acquisition strategy to expand its client base and recurring revenue, while also operating a Bitcoin treasury policy that leaves it materially exposed to cryptocurrency price volatility.
Average Trading Volume: 2,344,426
Current Market Cap: £128.7M
See more data about SWC stock on TipRanks’ Stock Analysis page.