Smarter Web Company issues $21 million Bitcoin-denominated convertible bonds, fully subscribed by TOBAM
According to ChainCatcher, official sources report that Smarter Web Company has issued $21 million in Bitcoin-denominated convertible bonds, which have been fully subscribed by institutional investor TOBAM.
It is reported that these zero-coupon bonds can be converted into shares at a 5% premium, include Bitcoin-based downside protection, and limit the proportion of purchased Bitcoin to no more than 30%. This marks the first such financing in the UK market.
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