The Smarter Web Company (AQUIS: SWC | OTCQB: TSWCF | FRA: 3M8), a London listed technology company, announces that further to the announcement on 19 June 2025, the initial tranche of 7 million new Ordinary Shares has been placed.
The proceeds of the 7 million new Ordinary Shares are approximately £22.9m (before expenses), equivalent to £3.27 per share, and the Company will receive approximately 97% of the proceeds. The shares were placed in line with the Subscription Agreement between 19 June and 04 July with no shares being placed on some days.
Subscription Agreement
The Company is today making available a further tranche of 14 million new Ordinary Shares at par value. This will complete the total of 21 million new Ordinary Shares within the Subscription Agreement and the Company may elect to sign a further new subscription agreement after this.
As previously advised the high-level terms of the Subscription Agreement are:
- Shares cannot be placed below the closing bid price from the previous trading day on the Aquis Stock Exchange
- Shares cannot be placed exceeding 20% of the volume of the current trading day
- Reasonable endeavours will be used to place the new Ordinary Shares within 3 months from this announcement date
- The Subscription Agreement allows the Company to benefit by receiving approximately 97% of the net proceeds of shares placed Andrew Webley, CEO of The Smarter Web Company said “I am pleased to be able to update shareholders and say that the initial 7 million shares have now been placed. This is the first tranche of our new capital raising instrument, and the results have been convincing. This fundraising allows The Smarter Web Company to benefit from market volume and to then grow the treasury to further the business strategy.