Animoca Brands has suspended reverse-merger talks with Currenc Group Inc. that would have taken the digital asset investment firm public on the Nasdaq. The two sides cited mismatched timelines for finalizing the deal, but Animoca says it still intends to pursue a public listing.
Animoca Brands suspended discussions for a proposed reverse merger with Currenc Group Inc. (CURR), which would have secured the digital asset investment company a Nasdaq listing. The two companies decided the proposed timeframe to finalize the transaction didn't align with their respective goals, and Animoca announced the suspension on Tuesday.
Talks between Animoca and Currenc kicked off late last year, with plans for Animoca to own 95% of the merged company. Hong Kong-based Animoca said it remains fully committed to listing on a major public exchange, with co-founder Yat Siu adding the firm will continue to pursue "optimal routes" to a public listing.
Animoca Brands' portfolio spans decentralized finance, AI, non-fungible tokens and gaming, with advisory services forming an increasing chunk of its revenue in recent years. Currenc shares closed at $3.23 on Monday, 1.25% higher on the day, before dropping 0.93% in after-hours trading.
Source: CoinDesk
Trading involves risk.
Risk Disclaimer
