The Smarter Web Company (LSE: SWC | OTCQB: TSWCF | FRA: 3M8) announces the purchase of additional Bitcoin as part of “The 10 Year Plan” which includes an ongoing treasury policy of acquiring Bitcoin. Details are as follows:
- Number of Bitcoin Purchased: 25 Bitcoin
- Average Purchase Price: £59,995 per Bitcoin ($81,592.67 per Bitcoin)
- Amount Purchased: £1,499,865
- Total Bitcoin Holdings: 2,830 Bitcoin
- Total Average Purchase Price: £81,354 per Bitcoin ($110,641.50 per Bitcoin)
- Total Amount Purchased: £230,231,940
- The Company has achieved a Quarter-to-Date BTC Yield* of 13.86% on its treasury
* As defined below
Coinbase Strategic Credit Facility
Following the Bitcoin purchase announced today, total drawings under the facility are £16,000,000, representing an approximate leverage ratio of 10.37%. The Company will continue to provide updates on any material drawdowns or repayments in future regulatory announcements.
The terms of the facility with Coinbase remain unchanged. The loan is secured against the Company’s existing Bitcoin holdings, carries a competitive variable interest rate of between 6.75% to 7.25%, and is repayable without additional charges at the Company’s discretion.
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