ACQUA1 Initial Closing Burns 563M MERC for RWA Units
Liquid Mercury subsidiary ACQUA1 completed its first Reg D closing on September 1, issuing non-voting units and burning all received MERC tokens.
ACQUA1 LLC, a subsidiary of Liquid Mercury, completed the initial closing of its MERC exchange offering on September 1, 2026.
Verified accredited investors received 56,323,000 non-voting Class B units in exchange for 563,230,000 MERC at a rate of 10 MERC per unit under Rule 506(c) of Regulation D.
All 563,230,000 MERC tokens were transferred to a dead address on September 2, 2026, as required by the operating agreement.
RWA licensing program
ACQUA1 operates Liquid Mercury’s Lab Company program, which licenses the firm’s technology to companies tokenizing real-world assets in return for fees and minority equity stakes.
Liquid Mercury remains the majority holder and manager of ACQUA1.
CEO Tony Saliba stated that licensing allows companies to launch on already live systems at lower cost and time than building infrastructure themselves, and that ACQUA1 token holders own a portion of the equity and fee stream from the program.
Remaining schedule
Two further closings are listed for on or about October 30 and December 31, 2026, but ACQUA1 may skip or terminate them at its discretion and the conversion rate may change.
The total size of the offering and final unit count are not stated in the available documents.