Animoca Brands intends to list on Nasdaq through a reverse merger

Techub News, Animoca Brands Corporation Limited (Animoca Brands) has entered into a non-binding term sheet with Currenc Group Inc. (Nasdaq: CURR) (Currenc) regarding a potential proposal for Currenc to acquire 100% of the issued shares of Animoca Brands via a scheme of arrangement (Potential Transaction). Under the terms of the Potential Transaction, it is proposed that all shares of Animoca Brands be acquired by Currenc in exchange for newly issued shares in Currenc pursuant to an Australian scheme of arrangement. If the Potential Transaction is agreed upon and implemented, Animoca Brands would become part of a Nasdaq-listed combined group. Prior to the implementation of the Potential Transaction, Currenc may undergo a corporate restructuring. Upon implementation of the Potential Transaction, shareholders of Animoca Brands are expected to hold approximately 95% of the outstanding shares of Currenc, while existing shareholders of Currenc are expected to hold approximately 5% of the outstanding shares of Currenc.