Animoca Brands has signed a letter of intent for the acquisition with Nasdaq-listed company Currenc Group.

According to a message from Deep Tide TechFlow on November 3, Animoca Brands revealed that the company has signed a non-binding letter of intent with Nasdaq-listed Currenc Group Inc. (Nasdaq: CURR), whereby Currenc intends to acquire 100% of the issued shares of Animoca Brands through a planned arrangement.

According to the proposed transaction, Currenc will acquire all shares of Animoca Brands and issue new shares to its shareholders in exchange. After the transaction is completed, Animoca Brands shareholders will collectively hold 95% of the issued shares of Currenc, with co-founder and executive chairman Yat Siu and his controlling entities receiving a newly created class of common stock, while other shareholders will receive new Currenc common stock.

The transaction is conditional and non-binding, and both parties must complete due diligence and obtain board approval before signing a formal agreement. The implementation of the transaction is subject to several prerequisites, including shareholder approval and court approval, and is expected to be completed by the end of 2026.

After the transaction is completed, Animoca Brands will become part of the merged group listed on NASDAQ.