Animoca suspends Currenc merger talks but pursues major-exchange listing

Animoca Brands suspended its plans to go public through a reverse merger with Nasdaq-listed Currenc Group. The companies mutually agreed to pause the talks after reviewing market conditions and the deal's projected closing timelines, Animoca said Tuesday. Under the proposed transaction, Currenc would have acquired Animoca, and Animoca shareholders would have owned 95% of the combined Nasdaq-listed company. Animoca said the companies may resume discussions if conditions permit. Yat Siu, executive chairman of Animoca Brands, said the company would continue pursuing routes to a public listing while advancing the comprehensive audits required to meet the compliance standards of a major public exchange. Animoca is a Hong Kong-headquartered investment and gaming company whose portfolio includes The Sandbox, Moca Network and Open Campus. It was previously listed on the Australian Securities Exchange before being removed from the exchange in March 2020.