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Smarter Web Company PLC ( (GB:SWC) ) has issued an update.
The Smarter Web Company PLC has raised gross proceeds of £191,754 through the placing of 510,368 new ordinary shares under an existing subscription agreement at about £0.38 per share. The company will receive roughly 98.25% of the proceeds after settlement, while more than 56.9 million shares remain available to be placed under the same agreement, providing further potential access to equity capital.
By continuing to execute on the subscription agreement, the company is bolstering its balance sheet to support its digital services growth strategy and Bitcoin-focused treasury approach. However, its material exposure to Bitcoin means shareholders remain indirectly exposed to the cryptocurrency’s extreme volatility and operational risks, an aspect the board explicitly flags as a key consideration for current and prospective investors.
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. Its business model centres on an initial project fee, recurring annual hosting charges and optional monthly marketing fees, with growth targeted both organically and through acquisitions that expand its client base and recurring revenues.
The company has also integrated Bitcoin into its strategy, accepting it as payment since 2022 and holding treasury reserves and surplus cash in the cryptocurrency. This Bitcoin Treasury Policy exposes the company materially to Bitcoin’s price volatility and regulatory risks, which the board describes as an innovative approach but one that carries high risk for its financial position.
Average Trading Volume: 1,700,074
Current Market Cap: £124.7M
Find detailed analytics on SWC stock on TipRanks’ Stock Analysis page.