What investors ask first
For anything not covered, request the offering memorandum via the contact form.
About the Offering
What is ACQUA1?
ACQUA1, LLC is the Delaware company that operates Liquid Mercury's Lab Company program. It licenses Liquid Mercury's technology to Lab Companies and is paid in fees and minority equity. ACQUA1 tokens represent non-voting Class B membership interests in that company, offered under Reg D Rule 506(c). Liquid Mercury holds the Class A units, manages the company, and retains the majority.
What does ACQUA1 give me exposure to?
Pro-rata economics of the whole company: fee revenue from Lab Companies and the equity ACQUA1 holds in each of them. The Lab Companies today are TokenBloq (tokenized private capital), Stratofied (private student loans), ISO (institutional crypto options, with the transaction expected to close in Q4 2026), and Annex Mercantile & Exchange (circular re-commerce). Champion Venture Partners is served as a platform client on a fee basis.
What's the total raise and valuation?
The dollar price per token, the ownership split, and the size of the offering are in the offering memorandum, which is shared with verified accredited investors on request. What is public: the conversion rate at the initial closing was 10 MERC per ACQUA1 token, and a concurrent cash offering is running at the same price per token.
Eligibility & Participation
Who can participate?
Accredited investors, verified through documentation rather than self-certification, who complete KYC/AML and sanctions screening. You can subscribe with MERC or, through the concurrent cash offering, with cash. Participation is subject to jurisdictional eligibility.
What's the minimum investment?
There is a minimum subscription, stated in MERC and waivable by the company. The specific figure is in the offering memorandum. MERC trades publicly, so the dollar cost of a MERC subscription depends on how and when you acquire it.
When does the offering close?
The initial closing took place on September 1, 2026. Subscriptions are still being accepted and close at the next scheduled closing: on or about October 30, 2026, then a final closing on or about December 31, 2026. No subscriptions are accepted after December 31, 2026, and the company may hold the final closing earlier.
How do I actually buy in?
Request the offering documents through the contact form. You then sign a subscription agreement, complete verification, and send MERC to ACQUA1's escrow wallet, or direct Liquid Mercury to move MERC it already holds for you. Your subscription closes at the next scheduled closing and the tokens are delivered to your whitelisted wallet. Cash investors follow the same steps under the concurrent cash offering's documents.
What happens to the MERC I convert?
It is burned. Within five business days of each closing, ACQUA1 sends all MERC received at that closing to a dead address. Liquid Mercury never receives it, and each burn is verifiable on-chain. The MERC from the September 1 closing was burned on September 2, 2026.
Structure & Expansion
What happens when a new Lab Company is added?
Equity from any Lab Company arrangement ACQUA1 signs after the initial closing issues directly to ACQUA1, so existing holders participate without a new token or subscription, and your transfer lockup does not restart. Separately, the company may raise additional capital in the future, which could dilute all holders, and there is no guarantee more Lab Companies will be added.
Do ACQUA1 holders vote?
No. Class B units carry economic rights only. Liquid Mercury, as sole Manager and holder of the Class A units, runs the company, and decisions such as a sale or dissolution are made by the Class A majority.
How is ACQUA1 taxed?
ACQUA1, LLC has elected to be taxed as a corporation. Holders do not receive K-1s; distributions are generally treated as dividends and reported on Form 1099-DIV. The exchange of MERC for tokens is intended to qualify as a tax-free contribution, but that treatment is not assured. Consult your own tax advisor.
Liquidity & Risk
When and how can I exit?
There is no public market for ACQUA1 tokens today. For one year after your closing, any transfer needs the Manager's consent and a verified accredited buyer with a whitelisted wallet. After that, transfers remain subject to securities law, and Rule 144 may not be available. ACQUA1 intends to seek trading on an exchange or alternative trading system but is under no obligation to, so you should be prepared to hold indefinitely.
What are the main risks?
ACQUA1 has no operating history, retains no proceeds from the offering, depends on Liquid Mercury for management and deal origination, and holds two positions that were still pending at the memorandum date. The tokens are illiquid, future offerings could dilute holders, and the intended tax treatment of the exchange is not assured. The Offering page lists the material risk factors, and the memorandum covers them in full.
More questions?
Get in touch for the offering memorandum and accreditation verification.
Request Details