Valereum's PS19 million investment deal with DMC falls through

Valereum PLC on Tuesday reported it will no longer be proceeding with the previously-proposed £19 million investment by DMC Markets Inc.

Valereum is focused on tokenised digital markets as an exchange and marketplace operator.

The firm’s decision was the result of ‘extensive due diligence’ and ‘prolonged negotiations over several months’, as ‘despite repeated assurances, it ultimately became clear that DMC was not in a position to complete the transaction’.

The DMC deal was initially agreed in December, and would have seen DMC make a £19 million capital investment via Valereum Inc, an entity formed for the purpose of the investment.

Funds from the investment were intended to accelerate growth by providing additional working capital for Valereum to expand its range of digital asset services, extend its reach, and fund minority investments in three strategic digital asset companies.

After completion, DMC would have acquired a 49% interest in Valereum PLC, with the right to nominate one member to the board.

The terms of the agreement were amended in February from an initial £13 million investment, via a subscription for shares at 10 pence each.

‘The board remains confident in the company’s ability to deliver shareholder value through its own distinctive path, one built on technology, regulatory readiness, and strategic independence,’ said Valereum on Tuesday.

The firm said, while the outcome was ‘disappointing’, it will continue to explore opportunities to ‘protect shareholder interests and promote growth’. Further announcements will follow ‘in due course’.

Shares in Valereum were last publicly traded on the Aquis Exchange at 6.07 pence on Tuesday, down 46% from 11.33p on Thursday last week.

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