Result Of Accelerated Bookbuild & Subscription Raising in Total Approx. £41.2 Million The Smarter Web Company (AQUIS: SWC | OTCQB: TSWCF) is pleased to announce the successful completion of an Accelerated Bookbuild (“Bookbuild”) to institutional investors through Tennyson Securities and Peterhouse Capital Limited. A Subscription (“Subscription”) with Qualified Investors (as defined in Article 2(e) of the United Kingdom version of Regulation (EU) 2017/1129 as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended from time to time) (“UK Prospectus Regulation”)) has also been completed.
With a high level of demand the Bookbuild and Subscription has raised approximately £41.2 million (before expenses), well above the stated minimum of £30 million, through the issue of a total of 14,221,623 new ordinary shares of £0.001 each ("Ordinary Shares") at £2.90 per share (“Offer Price”). The Offer Price was at the closing bid price on 25 June 2025.
- A total of 1,713,830 new Ordinary Shares will be issued through the Subscription at the Offer Price, raising £4,970,107 (before expenses)
- A total of 12,507,793 new Ordinary Shares will be issued through the Bookbuild at the Offer Price, raising £36,272,600 (before expenses)
It is expected that Admission of the new Ordinary Shares will become effective at 08:00, on or around 01 July 2025. The Bookbuild and Subscription are conditional upon, among other things, Admission becoming effective.
The Bookbuild Ordinary Shares and Subscription Ordinary Shares, when issued, will be fully paid and will rank pari passu in all respects with each other and with the existing Ordinary Shares of the Company, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue.
Total Voting Rights
Following Admission, the total number of Ordinary Shares in issue in The Smarter Web Company will be 242,467,435 ordinary shares of £0.001 each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
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