Animoca Brands has officially halted its reverse merger negotiations with the Nasdaq-listed Currenc Group. The decision was reached by both companies following a joint assessment of current market conditions and the anticipated timelines for finalizing the transaction.
The proposed deal structure would have resulted in Currenc acquiring Animoca, with Animoca shareholders retaining a 95% stake in the combined entity. Despite the suspension of this specific merger, the company maintains its objective of securing a public listing on a major exchange.
Yat Siu, executive chairman of Animoca Brands, stated that the firm is currently focused on completing the comprehensive audit processes necessary to satisfy the compliance standards required by major public exchanges. The company continues to evaluate alternative paths to go public.
Headquartered in Hong Kong, Animoca Brands operates as an investment and gaming firm with a portfolio that includes The Sandbox, Moca Network, and Open Campus. The company was previously listed on the Australian Securities Exchange until its delisting in March 2020.
