PANews reported on August 26th that London-listed technology company The Smarter Web Company (SWC) raised £3.7 million (approximately $5 million) in its latest subscription tranche, issuing 1,898,201 ordinary shares. While the official announcement did not specify the intended use of the proceeds, sources suggest the company may plan to use some of the proceeds to purchase Bitcoin. The shares were issued at approximately £1.93 per share, and the company expects to receive approximately 97% of the net proceeds this week. The subscription was completed from August 11th to 22nd, and a new subscription agreement will be signed for the remaining 2,591,799 ordinary shares.