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LONDON - Valereum Plc (AQSE:VLRM) announced Monday a retail offer via the Winterflood Retail Access Platform (WRAP) to raise up to £100,000 through the issuance of new ordinary shares, according to a company press release.
The blockchain and digital markets company will issue up to 3,225,806 new ordinary shares priced at 3.1 pence each. This retail offering represents the second tranche of a previously announced £500,000 fundraising plan.
The first tranche was completed on August 1 when Valereum’s Chairman and CEO each subscribed for £200,000 worth of shares at the same price, which represents the mid-market closing price on July 31 and August 8.
The WRAP Retail Offer is available exclusively to existing Valereum shareholders in the United Kingdom (TADAWUL:4280) through participating financial intermediaries. Investors must subscribe a minimum of £250, with applications closing at 4:30 pm on August 13.
The offering is conditional on the new shares being admitted to trading on the Apex Segment of the Aquis Exchange, expected to occur on August 19.
Valereum, which describes itself as a company focused on unlocking capital in tokenized digital markets, reserves the right to amend the size of the retail offer and to scale back any orders at its discretion.
The new shares will rank equally with existing ordinary shares, including rights to dividends and other distributions declared after issuance.
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