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Animoca Brands Eyes Nasdaq Listing with Currenc Group Merger
Yahoo Financeยท 2025-11-03 14:16
Core Viewpoint - Animoca Brands Corporation Limited is pursuing a merger with Currenc Group Inc. to facilitate a Nasdaq listing, potentially creating the first publicly-listed diversified digital assets conglomerate [2][4]. Group 1: Transaction Details - Animoca Brands has signed a non-binding term sheet with Currenc Group, which may lead to Currenc acquiring 100% of Animoca's issued shares through a scheme of arrangement [1][2]. - The deal is expected to close by 2026, contingent upon shareholder and regulatory approvals [2]. - Approximately 95% of the issued shares will be allocated to Animoca Brands shareholders as part of the transaction [3]. Group 2: Strategic Intent - The merger aims to provide investors on Nasdaq direct access to the trillion-dollar altcoin digital economy, encompassing sectors like DeFi, AI, NFTs, gaming, and DeSci [2]. - Animoca Brands has previously attempted to expand into the US market, seeking a New York listing to tap into the world's largest capital market [5]. Group 3: Due Diligence and Conditions - The potential transaction is non-binding and requires satisfactory due diligence from both parties before moving forward [4]. - Binding documentation will be necessary after board approvals are obtained for a full-form transaction agreement [4].