The Smarter Web Company (LSE:SWC), the UK web design, development and digital services provider, has sold 2.88m shares under a Subscription Agreement, raising gross proceeds of £2.16m, equivalent to approximately £0.75 per share.
The company will receive approximately 98.25% of the proceeds, and plans to use part of the net sum to reduce drawings under its Coinbase Strategic Credit Facility from approximately £19m to approximately £17m.
The loan is secured against the company's Bitcoin holdings and is repayable at the company's discretion without additional charges.
The sale is the latest drawdown on the Subscription Agreement first announced on 24 December 2025, which has funded a steady drip of share placements through the year alongside a parallel build-up of the company's Bitcoin treasury under its "10 Year Plan."
The facility balance has moved both ways in recent months: borrowings stood at £18.5m in late May, rose to roughly £20.8m, and were cut to approximately £19m in September using proceeds from a separate £1.89m placement under the same agreement.
Today's repayment would mark the lowest facility balance since May, if completed as planned.
A balance of 38.33m shares remains unsold under the Subscription Agreement.
The company said it continually reviews its capital allocation priorities and will update the market on any material drawdowns or repayments in future regulatory announcements.