Valereum PLC (AQSE:VLRM) shares were up on Aquis this Tuesday after the digital assets specialist reported significant progress toward completing its $200 million royalty and streaming financing.
The company, in a statement, highlighted the establishment of a dedicated segregated portfolio vehicle by Quorium Global Photonics SPC, through which the funding will be enabled.
Valereum noted that the structure is designed to allow drawdown and deployment of the capital through QGP’s perpetual call certificates. The financing is expected to provide a long-term capital platform to accelerate its tokenisation, infrastructure and digital-asset initiatives, it added.
As part of the formation of the vehicle, Valereum issued 12,595,437 ordinary shares at par value, which are subject to a full lock-up until the $200 million is released.
The company said that various regulatory checks are well advanced, with no issues identified to date.
"We are delighted to report strong progress ... The establishment of V-QGP, agreed share lock-up, and the advanced stage of regulatory and compliance checks all bring us closer to concluding this landmark transaction," said Valereum chair James Bannon.
"We expect to conclude in the coming days, subject to remaining compliance and documentation, and will update the market accordingly."
On the Aquis market, Valereum shares were priced around 10% higher, at 19.25p.