Subscription Agreement Update - £2.2m Gross Proceeds
The Smarter Web Company announces that 2,883,000 Ordinary Shares have been sold in accordance with the terms of the Subscription Agreement announced on 24 December 2025 (the “Subscription Agreement”).
The gross proceeds from the sale of these shares will be £2,163,160, equivalent to approximately £0.75 per share, and the Company will receive approximately 98.25% of these proceeds in accordance with the terms of the Subscription Agreement. The balance of Ordinary Shares issued under the Subscription Agreement which have not yet been sold is 38,330,788.
Coinbase Strategic Credit Facility
The Company intends to use some of the net proceeds from the sale of the Subscription Shares to reduce the outstanding amount under its strategic credit facility with Coinbase from approximately £19.0 million to approximately £17.0 million following receipt of funds. The Company continually reviews its capital allocation priorities and will deploy proceeds from capital raises in accordance with those priorities at the relevant time. The Company will continue to provide updates on any material drawdowns or repayments in future regulatory announcements. The loan remains secured against the Company’s existing Bitcoin holdings and is repayable without additional charges at the Company’s discretion.
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