‘Not currently the right capital solution’: Smarter Web sells 178 bitcoin to repay $11.7M convertible instrument
The Block·
60-second summary
Smarter Web is selling 177.89 bitcoin at $65,762 to repay $11.7 million to TOBAM, cancelling 7.7 million in potential share issuance. This move reflects Smarter Web's financial priorities, prioritizing debt repayment over potential equity expansion. The sale's impact on the market is limited, but it underscores the company's cautious approach to capital management amidst market fluctuations.
The Smarter Web Company sold 177.89 BTC at $65,762 to repay $11.7 million to TOBAM early, cancelling 7.7 million in potential share issuance.