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Smarter Web Company Issued $21 Million Bitcoin-denominated Convertible Bonds, Fully Subscribed by Institutional Investor TOBAM

Summary: According to reports, Smarter Web Company issued $21 million Bitcoin-denominated convertible bonds, fully subscribed by institutional investor TOBAM. The interest-free bonds allow conversion to stocks at a 5% premium, include downside protection based on Bitcoin, and limit the proportion of purchased Bitcoin to 30%. This marks the first such financing in the UK market.

According to reports, Smarter Web Company issued $21 million Bitcoin-denominated convertible bonds, fully subscribed by institutional investor TOBAM.

The interest-free bonds allow conversion to stocks at a 5% premium, include downside protection based on Bitcoin, and limit the proportion of purchased Bitcoin to 30%. This marks the first such financing in the UK market.

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Link: Smarter Web Company Issued $21 Million Bitcoin-denominated Convertible Bonds, Fully Subscribed by Institutional Investor TOBAM [Copy]

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