AGBA and Triller Finalize Amended Merger Agreement Details
AGBA and Triller Unveil Amended Merger Agreement
AGBA Group Holding Limited (Nasdaq: AGBA), a leading business platform known for its innovative financial services, has exciting news to share. The company has announced an amended and restated merger agreement with Triller Corp., a social media and live-streaming platform powered by AI.
Merger Overview
The amended agreement follows the original merger plan and addresses updates necessary for the integration of both companies. Once the transaction is finalized, the new entity will operate under the name “Triller Group Inc.” and is expected to trade on the Nasdaq with the ticker “ILLR.”
Transaction Timeline
The closing of the merger is anticipated soon, contingent on receiving regulatory clearance, approval from AGBA’s shareholders, and meeting standard closing conditions. Both AGBA and Triller are eager to move forward with this strategic collaboration, which is designed to enhance their market propositions.
New Opportunities Ahead
This merger is set to foster a combination of cutting-edge technology and innovative social media capabilities, aiming to create a next-generation platform for creators and users alike. With the integration of machine learning, the new entity intends to leverage AI to elevate content delivery and user engagement.
Details of the Amended Agreement
The amended merger agreement outlines several key points regarding share issuance and company restructuring. AGBA will undergo domestication in the U.S., transforming into a Delaware corporation. All existing AGBA shares will convert into shares of AGBA Delaware Parent upon successful completion of this process.
Equity Distribution
As part of the merger consideration, AGBA Delaware Parent will issue a total of approximately 300 million shares to Triller’s current stockholders, which includes both common and preferred stock. Additionally, the agreement includes provisions for the conversion of existing restricted stock units, ensuring all stockholders are accounted for in this transformation.
About the Companies
About AGBA: Established in 1993, AGBA is recognized for its multi-channel approach to financial services. The company is dedicated to utilizing technology to unlock a diverse range of choices for its clients. AGBA has successfully built a solid reputation with over 400,000 customers, organized across various business sectors including platform services and fintech.
About Triller: Triller has emerged as a premier platform in the realm of AI-driven social media, blending music, entertainment, and live-streaming events. With a comprehensive approach that intertwines various cultural aspects, Triller aims to provide a holistic experience for users while extending its reach to millions globally.
Frequently Asked Questions
What is the significance of the merger between AGBA and Triller?
The merger will create a robust new platform enhancing user engagement and harnessing the power of AI to optimize content delivery.
When is the merger expected to be finalized?
The closing is anticipated soon, pending regulatory approvals and shareholder consent.
What will be the new company name post-merger?
Once complete, the company will be known as “Triller Group Inc.” and trade under the ticker “ILLR.”
How will existing shareholders be affected by the merger?
Current shareholders will receive shares in the new company based on the merger terms outlined in the agreement, ensuring they are integral to the new entity.
What sectors will the newly combined company operate in?
The merger aims to enhance the social media landscape, focusing on entertainment, live-streaming, and cutting-edge technology.
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