STOCKS | The Smarter Web Company Places 1.067 Million Shares Under Subscription Agreement

The Smarter Web Company, a London-listed technology firm, placed 1,067,000 ordinary shares under the terms of a subscription agreement. According to Foresight News, the placement generated gross proceeds of 299,091 pounds before expenses, implying a price of about 0.28 pounds per share. The company said it expects to receive about 98.25% of the proceeds as settlement. The remaining balance of ordinary shares not yet placed under the subscription agreement is 48,152,390 shares.