Animoca Brands Shelves Merger Talks with Currenc Group
Animoca Brands has suspended its proposed reverse merger talks with Nasdaq-listed Currenc Group, citing mismatched closing timelines and changing market conditions. The deal would have given Animoca shareholders around 95% ownership of the combined company.
The decision does not necessarily mean a return to public markets for Animoca is off the table. Co-founder Yat Siu stated that the company remains committed to a major public exchange listing, with completion of audited financial statements as an essential step towards achieving this goal.
Animoca Brands has been working on its fiscal 2024 audited accounts and has published its audited fiscal 2023 financial statements in July. The company's operations have expanded beyond gaming to web3, digital assets, tokenization, and AI, with recent investments in AllScale and a majority acquisition of GAMEE by Alpha Compute.