TechFlow news, November 3 — According to Animoca Brands, the company has entered into a non-binding letter of intent with Currenc Group Inc. (Nasdaq: CURR), a Nasdaq-listed company, under which Currenc proposes to acquire 100% of the issued shares of Animoca Brands via a scheme of arrangement.
Under the proposed transaction, Currenc will acquire all shares of Animoca Brands and issue new shares to its shareholders in exchange. Upon completion, Animoca Brands' shareholders will collectively hold 95% of the issued shares of Currenc. Yat Siu, co-founder and Executive Chairman, and his controlled entities will receive a newly created class of common stock, while other shareholders will receive new Currenc common stock.
The transaction is conditional and non-binding, with both parties required to complete due diligence and obtain board approvals before signing a definitive agreement. Implementation of the transaction is subject to multiple conditions precedent, including shareholder and court approvals, and is expected to be completed by the end of 2026.
Upon completion, Animoca Brands will become part of the combined group listed on Nasdaq.
