Alkemya Metacore SCSp has secured $50 million in a pre-launch capital raise for its tokenized equity nickel offering, with plans to sell additional ALKN tokens at $1.0 per token. The offer, arranged by Hanover Square Capital (UK) Ltd, is set to close on October 15, 2026, and targets institutional and professional investors on the Bitfinex Securities platform.
Underlying Asset and Valuation
The core of the offering is Alkemya Metacore’s substantial holding of approximately 7 million meters of 99.99% ultra-pure nickel wire, measuring 0.025 mm in diameter. This asset has been independently verified and valued at approximately $1.64 billion. The nickel wire is currently held in institutional custody in Lugano, Switzerland.
Capital Deployment and Strategic Applications
A portion of the capital raised will be invested as working capital into Alkemya Metacore to advance its commercialization strategy. This involves transforming the ultra-pure nickel wire into engineered mesh products designed for high-growth applications across seven key sectors: EMI shielding, aerospace and defense, marine and desalination, power and industrials, semiconductors, green hydrogen, and rare/precious metals recovery.
Token Structure and Investor Returns
The ALKN tokens are structured to offer investors an asset-backed investment opportunity, combined with a thematic exposure to the energy transition and electronic security technologies. Cash distributions for token holders include a 6% per annum compound interest preferred return, followed by an 80/20 profit split in favor of token holders from the commercial business.
Platform and Regulatory Framework
Alkemya Metacore SCSp is registered as an Issuer with the CNAD (National Commission of Digital Assets) in El Salvador. The offering is being conducted on Bitfinex Securities, a platform licensed in El Salvador and Kazakhstan, which facilitates the issuance, listing, and trading of tokenized securities. This platform aims to enhance the efficiency, transparency, and accessibility of capital formation for both issuers and investors.
Market Significance and Commentary
Carlo Guido Della Peruta, Manager of the General Partner of Alkemya Metacore, highlighted the capital raise as a significant milestone, demonstrating confidence in the underlying nickel asset and the offering’s structure. Jesse Knutson, Head of Operations at Bitfinex Securities, emphasized the platform’s role in connecting investment opportunities with a broader investor base. Arvinder Sood, CEO and Director at Hanover Square Capital (UK) Ltd, noted that tokenization provides access to a global investor base within a regulated framework, positioning Alkemya Metacore as an example of bringing previously inaccessible asset classes to market via blockchain technology.
Uncertainties
Despite the reported success of the capital raise, uncertainties remain regarding the exact amount of further funds to be raised in additional tranches, the specific timeline for transforming the nickel wire into engineered mesh products, and the future performance and market acceptance of the ALKN tokens.
Broader Context
Source materials place the factual news in this context: Alkemya Metacore SCSp is a special limited partnership based in Luxembourg.
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