Agba Completes Merger With Triller
AGBA Group Holding (Nasdaq: AGBA) has completed its merger with Triller Corp., changing its name to Triller Group Inc. The combined company's stock and warrants are expected to trade under tickers "ILLR" and "ILLRW" on Nasdaq Capital Market starting October 16, 2024. Bob Diamond, Chairman of the combined company, emphasized the merger's benefits for app users and content creators.
The company will announce future leadership, strategy, and objectives on October 22, 2024. Concurrent with the merger, AGBA changed its incorporation from the British Virgin Islands to Delaware. Post-merger, former AGBA shareholders own 30% of the combined company's outstanding common stock, while former Triller stockholders own 70%.
AGBA Group Holding (Nasdaq: AGBA) ha completato la sua fusione con Triller Corp., cambiando il proprio nome in Triller Group Inc. Si prevede che le azioni e i warrant della società combinata saranno negoziati con i ticker "ILLR" e "ILLRW" sul Nasdaq Capital Market a partire dal 16 ottobre 2024. Bob Diamond, Presidente della società combinata, ha sottolineato i benefici della fusione per gli utenti dell'app e i creatori di contenuti.
La società annuncerà futuri leader, strategie e obiettivi il 22 ottobre 2024. Contestualmente alla fusione, AGBA ha cambiato la propria costituzione dalle Isole Vergini Britanniche a Delaware. Dopo la fusione, i precedenti azionisti di AGBA possiedono 30% delle azioni ordinarie in circolazione della società combinata, mentre i precedenti azionisti di Triller possiedono 70%.
AGBA Group Holding (Nasdaq: AGBA) ha completado su fusión con Triller Corp., cambiando su nombre a Triller Group Inc. Se espera que las acciones y warrants de la compañía combinada se negocien bajo los símbolos "ILLR" y "ILLRW" en el Nasdaq Capital Market a partir del 16 de octubre de 2024. Bob Diamond, Presidente de la compañía combinada, subrayó los beneficios de la fusión para los usuarios de la app y los creadores de contenido.
La empresa anunciará futuros líderes, estrategias y objetivos el 22 de octubre de 2024. Junto con la fusión, AGBA cambió su incorporación de las Islas Vírgenes Británicas a Delaware. Después de la fusión, los antiguos accionistas de AGBA poseen 30% de las acciones ordinarias en circulación de la empresa combinada, mientras que los antiguos accionistas de Triller poseen 70%.
AGBA Group Holding (Nasdaq: AGBA)은 Triller Corp.와 합병을 완료하고 이름을 Triller Group Inc로 변경했습니다. 합병된 회사의 주식 및 워런트는 2024년 10월 16일부터 Nasdaq Capital Market에서 "ILLR" 및 "ILLRW"라는 티커로 거래될 것으로 예상됩니다. 통합 회사의 회장인 Bob Diamond는 합병이 앱 사용자와 콘텐츠 제작자에게 미치는 이점을 강조했습니다.
회사는 2024년 10월 22일에 향후 리더십, 전략 및 목표를 발표할 것입니다. 합병과 동시에 AGBA는 영국령 버지니아에서 델라웨어로 법인을 변경했습니다. 합병 후, 이전 AGBA 주주들은 결합된 회사의 발행 보통주 30%를 소유하고 있으며, 이전 Triller 주주들은 70%를 소유하고 있습니다.
AGBA Group Holding (Nasdaq: AGBA) a achevé sa fusion avec Triller Corp., changeant son nom en Triller Group Inc. Les actions et warrants de la société combinée devraient être négociés sous les symboles "ILLR" et "ILLRW" sur le Nasdaq Capital Market à partir du 16 octobre 2024. Bob Diamond, Président de la société combinée, a souligné les avantages de la fusion pour les utilisateurs de l'application et les créateurs de contenu.
La société annoncera la direction future, la stratégie et les objectifs le 22 octobre 2024. En parallèle avec la fusion, AGBA a changé son incorporation des Îles Vierges britanniques à Delaware. Après la fusion, les anciens actionnaires d'AGBA détiennent 30% des actions ordinaires en circulation de la société combinée, tandis que les anciens actionnaires de Triller détiennent 70%.
AGBA Group Holding (Nasdaq: AGBA) hat seine Fusion mit Triller Corp. abgeschlossen und seinen Namen in Triller Group Inc geändert. Die Aktien und Warrants des kombinierten Unternehmens sollen ab dem 16. Oktober 2024 unter den Tickers "ILLR" und "ILLRW" an der Nasdaq Capital Market gehandelt werden. Bob Diamond, Vorsitzender des kombinierten Unternehmens, betonte die Vorteile der Fusion für App-Nutzer und Content-Ersteller.
Das Unternehmen wird am 22. Oktober 2024 zukünftige Führungskräfte, Strategien und Ziele bekannt geben. Zeitgleich mit der Fusion hat AGBA seinen Sitz von den British Virgin Islands nach Delaware verlegt. Nach der Fusion besitzen frühere AGBA-Aktionäre 30% der ausgegebenen Stammaktien des kombinierten Unternehmens, während frühere Triller-Aktionäre 70% besitzen.
- Merger completion potentially strengthens market position
- Expected listing on Nasdaq Capital Market may increase visibility and liquidity
- Diversification of services through combined company offerings
- Potential synergies between AGBA's financial services and Triller's social media platform
- AGBA shareholders' ownership diluted to 30% in the combined company
- Uncertainty regarding future leadership and strategy until October 22 announcement
- Potential integration challenges between two different business models
Insights
The merger between AGBA and Triller marks a significant shift in AGBA's business model and market positioning. With the combined entity now trading as Triller Group Inc. (ILLR), investors should expect increased exposure to the social media, AI and content creation sectors. The 30% ownership for former AGBA shareholders suggests a substantial dilution but also potential for growth in a rapidly evolving market.
Key points to consider:
- The merger diversifies AGBA's portfolio, potentially reducing risk but also changing its financial profile.
- Triller's AI-powered platform and diverse content offerings (sports, entertainment, influencer marketing) could drive new revenue streams.
- The change in ticker and rebranding may attract different investor profiles, potentially impacting stock liquidity and valuation.
- Integration challenges and the need for clear leadership direction (announcement expected on October 22) could create short-term uncertainty.
Investors should closely monitor upcoming financial reports to assess the combined entity's performance and growth trajectory in this competitive landscape.
The merger between AGBA and Triller represents a strategic move into the competitive social media and content creation space. Triller's AI-powered platform for content virality and its diverse portfolio including BKFC and TrillerTV position the combined entity as a multi-faceted tech and entertainment company.
Key technological aspects to watch:
- Triller's proprietary AI technology for content distribution and virality tracking
- Integration of Amplify.ai's machine-learning capabilities into the broader business model
- Potential synergies between AGBA's financial services tech and Triller's content platform
The success of this merger will largely depend on how effectively the company can leverage its AI and machine learning technologies to differentiate itself in a crowded market dominated by established players like TikTok and Instagram. The upcoming leadership announcement will be important in understanding the technical direction and innovation strategy of the new Triller Group Inc.
NEW YORK, NY / LOS ANGELES, CA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- AGBA Group Holding Limited (Nasdaq: AGBA) (“AGBA”) today announced the completion of its previously announced merger (the “Merger”) with Triller Corp. (“Triller”).
In connection with the Merger, AGBA has changed its name to Triller Group Inc. (the “Company”). The combined company’s common stock and warrants are expected to begin trading under the tickers “ILLR” and “ILLRW,” respectively, on Nasdaq Capital Market on October 16, 2024.
“This merger is terrific news for both the users and the content creators on our app. Whether they are fans of BKFC, or they watch sports and entertainment events around the world on TrillerTV, or are using our brand and creator tools to find their audience, they now have in Triller an innovative, exciting partner.” said Bob Diamond, Chairman of the combined company and Founder and CEO of Atlas Merchant Capital LLC.
Leadership
The Company will make a statement on future leadership, strategy and objectives on Tuesday, October 22, 2024.
Domestication to Delaware
Concurrent with the closing of the Merger, AGBA changed its jurisdiction of incorporation from the British Virgin Islands to the State of Delaware, and changed its corporate name to “Triller Group Inc.”
Financial Terms
Following the completion of the Merger, former AGBA shareholders and former Triller stockholders own
The latest press release is available on the company’s website, please visit: www.agba.com/ir.
About AGBA
Established in 1993, AGBA Group Holding Limited is a leading, multi-channel business platform that incorporates cutting edge machine-learning and offers a broad set of financial services and healthcare products to consumers through a tech-led ecosystem, enabling clients to unlock the choices that best suit their needs. Trusted by over 400,000 individual and corporate customers, the Group is organized into four market-leading businesses: Platform Business, Distribution Business, Healthcare Business, and Fintech Business.
For more information, please visit www.agba.com.
About Triller Corp.
Triller Corp. is a next generation, AI-powered, social media and live-streaming event platform for creators. Pairing music culture with sports, fashion, entertainment, and influencers through a 360-degree view of content and technology, Triller Corp. uses proprietary AI technology to push and track content virally to affiliated and non-affiliated sites and networks, enabling them to reach millions of additional users. Triller Corp. additionally owns Triller Sports, Bare-Knuckle Fighting Championship (BKFC); Amplify.ai, a leading machine-learning, AI platform; and TrillerTV, a premier global PPV, AVOD, and SVOD streaming service.
For more information, visit www.triller.co.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the outcome of any legal proceedings that may be instituted against us following the consummation of the business combination; expectations regarding our strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and our ability to invest in growth initiatives and pursue acquisition opportunities; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Hong Kong and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC, the length and severity of the recent coronavirus outbreak, including its impacts across our business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.
Investor & Media Relations:
Bethany Lai
ir@agba.com
Anthony Silverman
ads@apellaadvisors.com
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