The Smarter Web Company has paid off its $11.7 million Smarter Convert financing agreement ahead of schedule by selling 177.89 Bitcoin. The move removes the possibility of more than 7.7 million new shares being issued while allowing the company to keep a sizable Bitcoin treasury of 2,700 BTC.
According to the company, the repayment was completed around two weeks before the financing instrument was due to mature. The early settlement was made with the support of investment manager TOBAM, whose affiliated entities held the instrument.
To repay the $11.7 million obligation, the company sold 177.89 Bitcoin at an average price of $65,762 per coin. The Bitcoin used for repayment had originally been purchased using funds raised through the Smarter Convert agreement.
With the debt now fully repaid, the potential issuance of more than 7.7 million ordinary shares has been eliminated. The company said this simplifies its capital structure and removes future shareholder dilution tied to the financing arrangement.
Despite selling part of its holdings, The Smarter Web Company still owns 2,700 BTC, showing that its long-term Bitcoin strategy remains firmly in place.
Chief Executive Andrew Webley said the Smarter Convert instrument played an important role when the company was building its Bitcoin treasury. However, he noted that convertible financing is no longer the preferred funding option for the company at its current stage of growth.
Over the past year, The Smarter Web Company has steadily expanded its Bitcoin reserves through regular purchases under its “10 Year Plan.” The company has also strengthened its treasury operations by working with multiple custodians, including Coinbase Institutional.
The latest repayment does not signal any change in strategy. Instead, it marks the end of one of the financing tools used during the early stages of the company’s Bitcoin accumulation efforts.
By paying off the instrument early and maintaining a treasury of 2,700 BTC, The Smarter Web Company continues to position Bitcoin as a central part of its long-term financial strategy.
