Animoca Brands and Currenc Group Suspend Merger Plans
- Animoca Brands has halted its plans to go public via a reverse merger with Nasdaq-listed Currenc Group.
- The decision was mutual, based on current market conditions and projected closing timelines.
- Under the proposed deal, Animoca shareholders would have owned 95% of the combined company.
- Yat Siu, executive chairman of Animoca, stated that discussions may resume if conditions improve.
- Animoca Brands is known for its investments in gaming and blockchain projects like The Sandbox and Moca Network.
The suspension of the merger reflects ongoing challenges in meeting compliance standards for public listings amid fluctuating market conditions. Animoca’s portfolio includes significant projects that continue to attract attention in the gaming and blockchain sectors.
As Animoca Brands pauses its merger with Currenc Group, it remains focused on finding optimal routes to a public listing while navigating current market dynamics.(Source)
