Smarter Web Company Sells 178 Bitcoin to Repay $11.7M Convertible Debt Two Weeks Early

The Smarter Web Company has repaid its $11.7 million Smarter Convert debt to TOBAM Group two weeks ahead of schedule. The UK-based firm funded the $11,698,540 repayment by selling 177.89 Bitcoin at an average price of $65,762. This strategic move eliminates the potential issuance of over 7.7 million ordinary shares, protecting shareholders from dilution. While the transaction temporarily impacts quarterly yield metrics, the firm retains 2,700 Bitcoin, keeping its long-term treasury strategy intact.

Smarter Convert early repayment

• ▪The Smarter Web Company funded the $11.7 million repayment by selling 177.8909127 Bitcoin at an average price of $65,762 per Bitcoin
• ▪The Smarter Web Company elected to deploy 100% of the Smarter Convert subscription proceeds into Bitcoin, obligating it to repay 100% of the acquired Bitcoin
• ▪The Smarter Web Company repaid $11,698,540 to TOBAM Group approximately two weeks ahead of schedule to settle its Smarter Convert convertible instrument

Bitcoin treasury ten year plan

• ▪The Smarter Web Company has spent approximately £233 million acquiring Bitcoin, primarily funded by over £225 million in capital raises.
• ▪The Smarter Web Company retains exactly 2,700 Bitcoin in its corporate treasury following the sale of 177.89 Bitcoin.
• ▪The Smarter Web Company operates under a "10 Year Plan" launched on April 28, 2025, focused on steady Bitcoin accumulation as a primary treasury reserve asset

Share dilution avoidance

• ▪The early repayment of the Smarter Convert instrument eliminated the potential issuance of 7,718,551 ordinary shares
• ▪The eliminated potential shares and the sold Bitcoin have been removed from The Smarter Web Company's fully diluted Bitcoin treasury analytics.

Capital structure simplification

• ▪CEO Andrew Webley stated that The Smarter Web Company no longer considers convertible instruments to be the right capital solution for its current stage of development
• ▪The Smarter Web Company reported a -4.35% Quarterly Gross BTC Yield as a direct result of repaying the Smarter Convert instrument

Corporate Bitcoin adoption trends

• ▪The Smarter Web Company is ranked 28th globally among corporate Bitcoin holders on BitcoinTreasuries.net, representing the largest corporate holding in the United Kingdom
• ▪The Smarter Web Company's transaction follows other corporate Bitcoin treasury adjustments in mid-2026, including K Wave selling 88 BTC and Fold selling $45 million in BTC to repay debts.