Animoca Brands Halts Merger Talks with Currenc Group
- Animoca Brands suspended discussions for a reverse merger with Currenc Group Inc., aiming for a Nasdaq listing.
- The two companies determined that the timeframe to finalize the transaction did not align with their goals.
- Talks began late last year, with Animoca expected to own 95% of the merged entity.
- Currenc shares closed at $3.23, up 1.25% on Monday, but fell 0.93% in after-hours trading.
- Animoca’s portfolio includes DeFi, AI, NFTs, and gaming sectors.
The suspension of merger talks indicates a shift in strategy for both companies as they reassess their objectives and timelines for public listings. Animoca Brands remains committed to pursuing listing opportunities on major exchanges.
As of now, Animoca Brands is exploring alternative routes for its public listing while Currenc’s stock performance reflects market fluctuations amid this decision.(Source)
