Animoca puts Currenc merger on ice, delaying its Nasdaq debut
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Animoca Brands has halted its plan to go public via a reverse merger with Nasdaq-listed Currenc Group. Both companies agreed to suspend the deal after reviewing market conditions and timelines, with a possibility to resume talks if conditions improve. The proposed transaction would have resulted in Currenc acquiring Animoca, with Animoca shareholders owning 95% of the combined entity.
Why it matters
The source does not explicitly explain the impact of this development on markets, users, or the industry.
Key context
Animoca Brands is a Hong Kong-based investment and gaming company, known for assets like The Sandbox, Moca Network, and Open Campus. It was previously listed on the Australian Securities Exchange but was delisted in March 2020. The company had been progressing through comprehensive audit processes to meet compliance standards for a major public exchange.
Key numbers and entities
Animoca Brands, Currenc Group, Yat Siu (executive chairman of Animoca Brands). Under the deal, Animoca shareholders were to own 95% of the combined company. Animoca was formerly listed on the Australian Securities Exchange until March 2020.
What remains unclear
The source does not specify the exact market conditions affecting the decision, the revised timeline for a potential listing, or alternative routes Animoca may pursue to go public.