Smarter Web Issues $21 Million in Bitcoin Convertible Bonds
- Smarter Web Launches Bitcoin-Denominated Bonds in the UK
- TOBAM acquires the entire initial issue of US$21 million
- Title Offers Exposure to BTC and Smarter Web Company
Smarter Web Company, one of the UK's leading bitcoin treasury companies, announced the issuance of a BTC-denominated convertible bond worth US$21 million. The financial product, called Smarter Convert, was structured in partnership with the French asset manager TOBAM, which acquired the entire initial issuance.
This news marks another step in the advancement of traditional companies into the crypto asset market, while also providing institutional investors with a new way to gain exposure to Bitcoin and the Smarter Web itself. The company announced that it intends to issue new securities at market prices, including the possibility of expanded participation by TOBAM itself.
The bond is interest-free and can be converted into Smarter Web Company shares. If the investor chooses not to convert, they will have the right to redeem 98% of the equivalent value in Bitcoin at maturity. This flexibility offers an alternative way to raise capital, adjusted to the volatility of BTC and the operational nature of the company.
As a treasury company, Smarter Web's shares are directly influenced by Bitcoin's performance. Therefore, the convertible bond emerges as a strategic alternative to mitigate risks and offer diversification options to investors.
Smarter Web currently holds 2.050 BTC, placing it among the top 25 companies in the world with bitcoin reserves. With shares listed in the United Kingdom, the company stands out as one of the region's leaders in using BTC as a balance sheet asset.
TOBAM, a France-based asset manager, has a solid track record in the crypto sector. The company has been working with cryptocurrencies since 2016 and was one of the first in Europe to invest directly in Bitcoin, reinforcing its pioneering position in integrating digital assets into traditional investment structures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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