$115M Follow-on Offering

Transaction overview

Following strong initial performance and advanced target discussions, Aetherium executed a $115 million follow-on offering to expand its acquisition capacity. The registered direct offering was placed with a select group of institutional investors at a premium to net asset value, reflecting market confidence in Aetherium’s pipeline and execution capability.

Our approach

We structured the offering as a registered direct placement to minimize dilution and maintain shareholder alignment. The capital raise was timed to coincide with advanced discussions on multiple potential targets, allowing Aetherium to pursue larger transactions that would have been constrained by the original trust size alone.

The result

The offering priced at a 2.5% premium to NAV, a strong indicator of institutional confidence. Settlement completed in two business days with no material market impact on existing share price. The expanded capital base positions Aetherium to compete for premium targets in the $200M-$350M enterprise value range.