Crypto powerhouse Animoca Brands sets sights on Nasdaq via reverse merger
The crypto VC giant plans a reverse merger with Nasdaq-listed fintech Currenc, giving Animoca shareholders majority control of the new entity.
Animoca Brands, a major venture capital investor in the cryptocurrency industry, is planning a Nasdaq listing next year via reverse merger with the AI-focused public fintech company Currenc Group.
Currenc has entered a non-binding term sheet with Animoca to acquire 100% of Animoca Brands’ issued shares via a reverse merger targeting a Nasdaq listing under the Animoca Brands name, according to a joint statement on Monday.
“Upon completion of the reverse merger the shareholders of Animoca Brands would collectively own approximately 95% of the issued shares in the merged entity,” Animoca co-founder Yat Siu said in a letter to shareholders. The remaining 5% would be held by Currenc shareholders.