Why did The Smarter Web Company sell 177.89 Bitcoin?

The Smarter Web Company has repaid its $11.7 million Smarter Convert instrument ahead of schedule by selling 177.89 Bitcoin, removing a potential 7.7 million-share issuance while retaining a treasury of 2,700 BTC. Summary The Smarter Web Company repaid its $11.7 million Smarter Convert instrument about two weeks before maturity by selling 177.89 Bitcoin. The early repayment removed the potential issuance of more than 7.7 million ordinary shares linked to the financing structure. The company continues to hold 2,700 Bitcoin and said convertible instruments are no longer its preferred source of capital. According to an official announcement from The Smarter Web Company, the London-listed firm settled its Smarter Convert instrument around two weeks before maturity after requesting an early repayment with the support of investment manager TOBAM, whose affiliated entities held the instrument. RNS Announcement: Repayment of Smarter Convert InstrumentThe Smarter Web Company announces that the Company's Smarter Convert instrument, held by entities related to the TOBAM Group and detailed in the Company’s announcement on 6 August 2025, has been repaid, approximately two… pic.twitter.com/gBpxI...