KR1 KR1 Plc

 
TIDMKR1 
 
31 October 2023 
 
KR1 plc 
 
("KR1" or the "Company") 
 
Investment Update: Celestia 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to 
provide an update on the Company's investment into Celestia (formerly 
"LazyLedger") following the recent launch of its mainnet. 
 
Celestia ("TIA") is a modular data availability network that securely scales 
with the number of users, making it easy for anyone to launch their own 
blockchain. 
 
The Company holds a total of 7,500,000 TIA, which are the native digital asset 
of the Celestia network, and result entirely from KR1's investment into 
Celestia's seed funding round three years ago. 
 
The Company's entire TIA allocation is held in institutional custody and is 
subject to a lockup schedule, which unlocks in two tranches: a third of the 
Company's allocation will unlock twelve months after Celestia's mainnet launch; 
followed by the remaining two thirds unlocking on a linear basis over the period 
between twelve to twenty-four months after Celestia's mainnet launch. 
 
After becoming one of KR1's top portfolio holdings as of today, the Company is 
also pleased to announce that it plans to initiate staking activities on the 
Celestia network, which is going to contribute to Celestia's network security 
and generate additional income from digital assets for the Company. 
 
Mustafa Al-Bassam, Co-Founder of Celestia, commented: "The mainnet launch of 
Celestia is a major event for the entire team and I'm excited that we have the 
continued support from KR1. As one of the oldest funds in the crypto space, KR1 
brings invaluable experience, and we are happy that they have been supporting us 
since our initial seed funding round." 
 
Keld van Schreven, Managing Director and Co-Founder of KR1, commented: 
"Witnessing the successful launch of Celestia once again demonstrates our 
ability to support great entrepreneurs and founding teams. We are immensely 
proud to have been among the earliest supporters of Celestia, when Mustafa and 
the team got started during the depths of the previous crypto `winter'. 
Launching their mainnet is a great achievement by the entire Celestia team. We 
are also excited for an entirely new ecosystem of projects being developed on 
top of Celestia's modular architecture." 
 
The Directors of KR1 plc accept responsibility for this announcement. 
 
--ENDS-- 
 
For further information please contact: 
 
KR1 plc                                              +44 (0)1624 630 630 
George McDonaugh 
Keld van Schreven 
Peterhouse Capital Limited(Aquis Corporate Adviser)  +44 (0)20 7469 0930 
Mark Anwyl 
FTI Consulting(PR Adviser)                           +44 (0)7711387 085 
 
Ed Berry                                             KR1@fticonsulting.com 
 
Maxime Lopes 
 
Lynn Begany 
 
About KR1 plc 
 
KR1 plcis a leading digital asset investment company supporting early-stage 
decentralised and open source blockchain projects. Founded in 2016 and publicly 
traded inLondonon the Aquis Growth Market (KR1:AQSE), KR1 has one of the longest 
and most successful track records of investment in the digital assets space by 
investing in decentralised platforms and protocols that are emerging to form new 
financial and internet infrastructures. 
 
www.KR1.io 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/kr1-plc/r/investment-update--celestia,c3866792 
 
 
END 
 
 

(END) Dow Jones Newswires

October 31, 2023 12:27 ET (16:27 GMT)

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