Smarter Web Sells 178 Bitcoin To Repay $11.7M TOBAM Debt
Summary
The Smarter Web Company sold 177.8909127 BTC at an average price of $65,762 to repay an $11.7 million convertible debt facility held by TOBAM, settling about two weeks early. The move was a balance-sheet decision, not an exit from its Bitcoin strategy. By repaying the “Smarter Convert” instrument, the company avoided issuing 7,718,551 ordinary shares that could have diluted existing shareholders. After the transaction, it still holds 2,700 BTC in treasury. The key takeaway is that corporate Bitcoin holdings can be used strategically: selling part of a treasury is not necessarily bearish if it reduces debt, preserves ownership, and improves capital structure.
