The web-based web design and marketing company, The Smarter Web Company, has raised 41.2 million British pounds ($ 56.59 million), a few days after buying 196 bitcoin to add to its growing assets.
The firm said Thursday that the increase came from institutional investors via an accelerated book, a process where a company quickly increases capital, generally in one or two days, without any marketing thrust.
The smarter web company raised 36.27 million British pounds ($ 49.8 million) with the book of books and 4.97 million additional British pounds ($ 6.82 million) per subscription. The price of the offer was 2.9 British pounds ($ 3.98) per share.
The company expects the actions issued in the two offers to come into force from July 1.
The increase arrives a few days after the passage of holdings 540 bitcoin
The increase occurred two days after the smarter web company said it had spent more than $ 20 million to buy 196.8 Bitcoin (BTC) at an average price of $ 103,290 each.
The company held 543.52 BTC on Tuesday, purchased at an average price of $ 104,450, a reserve which is currently worth around 58.19 million dollars.
The smarter web company has bought BTC five times in June so far, and its Bitcoin battery has increased from 83.24 BTC at the end of May to 543.52 BTC, an increase of 460.28 BTC in less than 30 days.
The company launched its Bitcoin cash strategy in April, but accepted Bitcoin as payment since 2023.
The equity rate decreases in the middle of recent bitcoin purchases
In the United States, the smarter web company is negotiated on the OTCQB, an over-the-counter market including companies at a rapid or developing stage.
The actions of Smarter Web Company PLC (TSWCF) dropped by 15% and closed $ 3.56 on Thursday after reaching an intraday lower $ 3.19, according to Google Finance.
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His shares dropped 1.8% after the bell and finished the session after opening hours at $ 3.49. Despite the recent decline, the company’s shares have always increased by 274% year to that of the start of the year.
British companies buy bitcoin
Other British companies have bought Bitcoin despite the lack of clear laws in the country around digital assets.
Tuesday, Vinanz, a company listed by the London scholarships which is marketing as a Bitcoin cash company, said that it had acquired 37.72 BTC to bring its total assets to 58.68 BTC.
In April, the investment company based in London Abraxas Capital bought Bitcoin worth more than $ 250 million.
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