UPDATE: Smarter Web Co raises GBP40 million from latest share offer
Smarter Web Co PLC - Bristol, England-based web design agency - Raises GBP41.2 million from the sale of 14.2 million new shares at 290 pence each in a placing run by Tennyson Securities and Peterhouse Capital Ltd and a direct subscription. The result was in excess of the minimum of GBP30 million set by the company in announcing the offer late Wednesday. Smarter Web now has 242.5 million shares in issue, giving it a GBP703.2 million market capitalisation at the offer price. Since adopting a bitcoin treasury policy, whereby it holds some cash reserves in bitcoin, Smarter Web Co has conducted a string of equity raises, including one announced on Monday for GBP3.8 million with a "single strategic investor". That raise was at 495.00 pence per share. Smarter Web Co share price jumped from just 4.50p in April to as high as 500.00p on Friday last week, giving it a market capitalisation in excess of GBP1 billion on Aquis Stock Exchange. But it has nearly halved in price so far this week, quoted at 255.00p on Thursday morning. Read More