Overview
- Currenc Group and Animoca Brands signed a non-binding term sheet for Currenc to acquire 100% of Animoca via a reverse merger.
- Animoca shareholders are expected to own about 95% of the resulting Nasdaq-listed entity, with Currenc shareholders holding roughly 5%.
- The combined company is expected to operate under the Animoca Brands name with a planned dual-class share structure and board nominees from both companies.
- The deal is intended to be implemented through an Australian scheme of arrangement and will require audited financials, shareholder votes, and U.S. exchange approvals.
- Currenc plans to spin off its AI solutions and digital remittance businesses to existing shareholders prior to closing, and its shares rallied sharply following the announcement.