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LONDON - Vault Ventures PLC announced Monday it has closed an oversubscribed equity placing raising £1 million, with plans to allocate between 50% and 75% of proceeds to Ethereum as part of its newly established treasury function.
The placing was executed at 0.018 pence per share, resulting in the issuance of 5,555,555,555 new shares. The company’s brokers, which include Fortified Securities, Shard Capital Partners (WA:CPAP), and Capital Plus Partners, opted to receive part or all of their commissions in equity, adding another 321,027,778 shares.
Following the transaction, Vault’s total issued share capital on Aquis will be 10,546,440,477 shares. The company will also issue 266,666,667 warrants to brokers, exercisable at a 25% premium to the placing price over 36 months.
Vault has appointed Jonathan Bixby, Blair Fisher, and Asim Sarwar as advisors under two-year consultancy agreements. These advisors will receive nil-cost warrants valued at £350,000 divided by the placing price, vesting in three tranches based on time and share price performance targets.
The company stated that Ethereum was selected for its treasury due to its liquidity, maturity, and alignment with Vault’s technology-driven business operations. Ethereum is recognized by the FCA and LSE as suitable for institutional use and operates under a proof-of-stake model.
Brian Stockbridge, Non-Executive Chairman, described the placing as a "vote of confidence" from investors and emphasized the company’s focus on managing costs to align shareholder interests with business operations.
The information was disclosed in a press release statement from Vault Ventures PLC.
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