The Smarter Web Company has secured a £19.7 million funding to advance its Bitcoin reserve strategy

BlockBeats News, July 28th, The Smarter Web Company, a publicly listed company in the UK, released an RNS announcement: Subscription for New Shares Update — £19.7 million Fundraising Secured. Out of the total 14 million ordinary shares to be issued in this round, 6,057,914 shares have been successfully placed.

The funds raised from this portion of the new share issuance amount to £19,680,874 (excluding relevant expenses), equivalent to approximately £3.25 per share. The company is expected to receive settlement of around 97% of the funds early this week.

BlockBeats previously reported that on July 25th, The Smarter Web Company announced the acquisition of an additional 225 bitcoins, with an average acquisition price of approximately $118,076. Its total holdings have now increased to 1825 bitcoins.