An Aquis-listed FinTech business which changed its leadership team this summer has agreed a $200 million funding deal, with the provision of extending this to $1 billion – and plans to list in the United States.
Valereum Plc, which is focused on tokenised digital markets and headquartered in Gibraltar, has entered into an agreement to raise $200m of royalty and streaming capital from Valereum QGP-SP – a new company formed by Cayman Islands-based Quorium Global Photonics, an asset-backed financing firm.
In return, the company will grant Valereum QGP-SP a one-year option to purchase up to a maximum 49.9% of ordinary shares in Valereum Plc.
Valereum parted company with CEO Nick Cowan in June following the collapse of a £19m investment deal. It then quickly agreed a €1.7m strategic investment for a minority stake in Fideum Group Limited and installed board member Gary Cottle (pictured) as its new CEO.
It said the new funding deal will accelerate the development and deployment of its crypto, blockchain and tokenisation platforms through its AI-driven royalty and streaming platforms.
It will also be used to build out a digital asset treasury, to maximise share price growth, and advance strategic acquisitions and partnerships within regulated financial and digital ecosystems.
Valereum will also commence the process of applying for a US national exchange listing – either the New York Stock Exchange or Nasdaq – to “enhance both the visibility and credibility of Valereum and its strategic partners, unlock access to a broader investor base, and ultimately fuel growth”.
Cottle said: “Today marks a fundamental turning point for Valereum. With this transaction, we’re not just announcing a deal; we are activating an engine for growth. We have strategically swapped 49.9% of our company for $200m of fully verified asset backed notes, as well as $79.5m of cash ($15.9m for 5yrs).
“This transforms our financial foundation overnight. Valereum is now a cash-flow positive company with a robust balance sheet. This complete recapitalisation removes funding risk and provides the stable, recurring capital we need to relentlessly execute our vision for AI-driven tokenisation, and the digital asset ecosystem, where we will accelerate our partnerships, and build substantial, lasting value.”
James Bannon, chair of Valereum Plc, added: “We’ve arrived at a position where we are de-risked and have removed the burden of ongoing fundraising. My main focus is now towards the US-listing and supporting the team as we continue to change the face of FinTech.”
The company will announce a new board structure on completion, with QGP taking two of the five board seats.
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