Smarter Web Raises £17.5M via Bookbuild at £2.95/Share

On July 18, The Smarter Web Company confirmed it raised £17.5 million via an accelerated bookbuild. The company issued 5,947,099 new ordinary shares at £2.95 per share, the closing bid price as of July 17. Institutional investors showed strong interest in the offering, with Tennyson Securities and Peterhouse Capital leading the round.

The company expects the new shares to begin trading on July 23, pending regulatory approvals. Once listed, they will rank equally with existing shares in terms of voting rights and dividend eligibility.

Capital Will Fuel Growth and Acquisitions

This fundraiser signals more than just confidence from investors. The company plans to channel the fresh capital into organic growth and acquisitions. Its current business model centers around web design, hosting, and digital marketing services. Includes revenues generated from a mix of one-time and recurring payments.

In its latest public strategy, The Smarter Web Company noted it will only pursue acquisitions when they align with long-term client growth. This includes the potential purchase of firms that expand their service portfolio or bring in complementary customer bases.

Bitcoin Treasury Stays in Focus

Since 2023, the company has also taken a high-conviction stance on Bitcoin. It maintains part of its treasury in BTC, believing the asset offers long-term value and inflation protection. The board reiterated that while its exposure to Bitcoin is material, this does not imply the firm is a crypto investment vehicle.

Still, the strategy introduces unique risks. Bitcoin remains volatile and unregulated in the UK. The company clarifies that it lacks protection under financial compensation schemes in case of crypto market disruptions.

Despite this, management continues to treat Bitcoin holdings as a core KPI, specifically through its proprietary “BTC Yield” metric. This tracks changes in BTC holdings relative to shares in issue.

Admission and New Share Count

Upon the expected admission of the new shares on July 23. The Smarter Web Company’s total share count will rise to approximately 265.6 million. Institutional investors will rely on this figure to disclose significant holdings. The company emphasizes that all newly issued shares are fully paid and carry equal rights to existing ones.