The Smarter Web Company Raises $5 Million in Latest Funding Round

According to PANews, London-listed technology firm The Smarter Web Company (SWC) has raised £3.7 million (approximately $5 million) through its latest subscription batch, issuing 1,898,201 ordinary shares. While the official announcement did not specify the intended use of the funds, there are reports suggesting that the company may allocate part of the funds for purchasing Bitcoin. The shares were issued at a price of approximately £1.93 each, and the company expects to receive about 97% of the net proceeds this week. The subscription activity took place from August 11 to 22, and a new subscription agreement will be signed for the remaining 2,591,799 ordinary shares.