Odaily Planet Daily reports that, according to an official announcement, UK-listed company The Smarter Web Company has repaid the Smarter Convert convertible note two weeks ahead of schedule, paying approximately $11.6985 million to the TOBAM Group by selling 177.89 bitcoins at an average price of $65,762. The company’s CEO stated that while the structure was previously recognized for its flexibility, it is no longer considered an appropriate capital solution. Following repayment, the company holds 2,700 bitcoins. The associated potential share issuance has been canceled.
The Smarter Web Company repays an $11.7M loan by selling 177.89 BTC at an average price of $65,762.
KuCoinFlashShare
Summary
The Smarter Web Company repaid an $11.6985 million loan two weeks early by selling 177.89 BTC at an average price of $65,762, aligning with its capital protection strategy. The CEO noted the structure was no longer suitable. The company now holds 2,700 BTC. Market price movements supported the timing of the decision. Share issuance has been canceled.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.