The Smarter Web Company secures £19.7 million in funding to advance its Bitcoin reserve strategy

BlockBeats News, July 28 — UK-listed company The Smarter Web Company has released an RNS announcement: Update on the latest share placement — £19.7 million raised. Of the 14 million new ordinary shares issued in this round, 6,057,914 shares have already been successfully placed.

The funds raised from this portion of the new share issuance amount to £19,680,874 (before deducting related expenses), equivalent to approximately £3.25 per share. The company expects to receive settlement for about 97% of the funds at the beginning of this week.

As previously reported by BlockBeats, on July 25, The Smarter Web Company announced an additional purchase of 225 Bitcoins at an average price of approximately $118,076 per Bitcoin, bringing its total holdings to 1,825 Bitcoins.