Animoca Brands announces the signing of a letter of intent with Nasdaq-listed Currenc Group.

PANews, November 3 news, according to official news, Animoca Brands has signed a non-binding letter of intent with Nasdaq-listed Currenc Group Inc regarding a potential proposal. The proposal involves Currenc planning to acquire 100% of the issued shares of Animoca Brands through an arrangement plan (“potential transaction”). According to the terms of the potential transaction, Currenc intends to acquire all shares of Animoca Brands in exchange for newly issued shares of Currenc under the Australian arrangement plan. If the potential transaction is completed and implemented: Animoca Brands will become part of a Nasdaq-listed conglomerate. Before the implementation of the potential transaction, Currenc may undergo corporate restructuring. At the time of the potential transaction's implementation, Animoca Brands shareholders are expected to hold about 95% of the circulating shares of Currenc, while existing shareholders of Currenc are expected to hold about 5% of the circulating shares of Currenc.