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Smarter Web Company issues a $21 million Bitcoin-denominated convertible bond, with institutional investor TOBAM subscribing in full.
By: theblockbeats.news|2025/08/06 14:41:55
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BlockBeats News, August 6th, According to official sources, Smarter Web Company issued a $21 million convertible bond priced in Bitcoin, fully subscribed by institutional investor TOBAM.
Reportedly, this zero-coupon bond allows conversion to stock at a 5% premium, includes Bitcoin-based downside protection, and limits the proportion of purchased Bitcoin to within 30%. This is the first such financing in the UK market.
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