Capital Markets

Aetherium Announces $115 Million Follow-On Offering

Aetherium Acquisition Corp completes a $115 million follow-on public offering, expanding its trust account to pursue larger business combination targets in the Southeast Asian technology sector.

Greenwich, CT — June 20, 2023 — Aetherium Acquisition Corp (NASDAQ: AETH) today announced the completion of a follow-on public offering of 11,500,000 shares of Class A common stock, raising gross proceeds of approximately $115 million.

Offering Details

  • Shares Offered: 11,500,000 shares of Class A common stock
  • Pricing: At a premium to net asset value per share
  • Total Trust Value: Over $215 million following this offering
  • Use of Proceeds: Deposited to trust account for business combination

“This offering significantly enhances our capacity to pursue larger transaction opportunities in the Southeast Asian technology market,” said Jonathan Chan, Chairman and CEO. “We are seeing a robust pipeline of potential targets with enterprise values in the $200 million to $400 million range, and this additional capital ensures we can compete effectively for the most compelling opportunities.”

The offering attracted a diversified investor base, including new institutional investors who had not participated in the initial public offering, reflecting growing confidence in Aetherium’s investment thesis and management team.

About Aetherium Acquisition Corp Aetherium Acquisition Corp is a NASDAQ-listed blank-check company focused on identifying and completing a business combination with a technology-driven company in Southeast Asia. With offices in Greenwich, CT and Singapore, Aetherium combines U.S. capital markets expertise with deep regional knowledge of ASEAN technology markets.