Animoca Brands and Currenc Group Sign Non-Binding Agreement for Potential Acquisition

According to PANews, Animoca Brands has entered into a non-binding letter of intent with Nasdaq-listed Currenc Group Inc. regarding a potential proposal. The proposal involves Currenc acquiring 100% of Animoca Brands' issued shares through a scheme of arrangement. Under the terms of the potential transaction, Currenc would acquire all shares of Animoca Brands in exchange for newly issued shares of Currenc under an Australian scheme of arrangement. If the transaction is completed and implemented, Animoca Brands would become part of a Nasdaq-listed integrated group. Prior to the implementation of the potential transaction, Currenc may undergo a corporate restructuring. Upon completion, Animoca Brands shareholders are expected to hold approximately 95% of Currenc's outstanding shares, while existing Currenc shareholders would hold about 5%.