Smarter Web Company issues $21 million in Bitcoin-denominated convertible bonds, fully subscribed by TOBAM

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The British listed company Smarter Web Company announced the issuance of $21 million in convertible bonds priced in Bitcoin, fully subscribed by institutional investor TOBAM. The bond has a zero-coupon structure, allowing conversion to stocks at a 5% premium, includes downside protection based on Bitcoin, and limits the proportion of purchased Bitcoin to 30%. This is the first such financing case in the British capital market.

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