The Smarter Web Company Signs Agreement for 21 Million New Shares
The Smarter Web Company has signed a subscription agreement to issue 21 million shares, following a previous fundraising effort in June. This move aims to strengthen the company's balance sheet amid expansion plans.
Key details include:
- Shares from the earlier deal are mostly placed.
- New stock trading on the Aquis Stock Exchange is expected to start around September 9.
- Following this issue, total shares will reach 290.6 million.
- Agreement signed with Shard Merchant Capital Ltd. at par value.
- Placement safeguards: prices cannot fall below the previous day's closing bid and volumes capped under 20% of daily activity.
- CEO Andrew Webley's stake will decrease from 10.17% to 9.44% due to dilution.
Company Overview
Smarter Web offers web design, hosting, and marketing services, generating revenue from upfront fees and annual hosting charges. It aims for acquisitions to boost its client base and has accepted Bitcoin payments since 2023 as part of its long-term strategy.
Market Context
Currently, Bitcoin is consolidating between $104,000 and $116,000, trading near $112,000. Analyst insights indicate a "repair phase" for BTC, with key support at the short-term holder realized price of $107,600.
Data suggests heavy accumulation in the $108,000-$116,000 range, while futures flows and ETF demand have decreased. A breakout above $116,000 may revive momentum; conversely, a drop below $104,000 could lead to values around $93,000-$95,000.