The Smarter Web Company PLC repaid its Smarter Convert instrument to the TOBAM Group roughly two weeks ahead of maturity, selling 177.89 bitcoin to fund the $11,698,540 payment, the U.K.-listed firm said Thursday.
The bitcoin (BTC) disposal cleared at an average price of $65,762 and covered the entire bitcoin position acquired from the original subscription proceeds. The August 2025 agreement required at least 98% of the funds to be deployed into bitcoin and the company put in 100%, which obliged it to repay the full amount acquired.
Retiring the instrument eliminated a potential issuance of 7,718,551 ordinary shares, per the disclosure. Those shares and the 177.89 bitcoin have been stripped from the company's fully diluted treasury analytics.
The repayment came at the company's request and with TOBAM's full support, according to the announcement.
Smarter Web treasury play
