AGBA Group says Triller merger ‘elevating shareholder value to new heights’

AGBA Group has previously announced that on April 16, 2024, it had entered into a definitive merger agreement to combine AGBA with Triller. Upon completion of the Transaction, AGBA will become a Delaware corporation that wholly owns Triller, and AGBA itself will be majority-owned by current Triller stockholders and restricted stock unit holders. The Boards of Directors of Triller and AGBA have agreed to value the Combined Group at $4.0 billion. Triller shareholders will own 80% of the pro forma Combined Group representing a valuation of US$3,200 million. AGBA has 74.4 million shares outstanding, and current AGBA shareholders will own 20% of the pro forma Combined Group; the implied value of AGBA’s current outstanding shares at $800 million is $10.75 per share. The Merger Agreement provides that, prior to the effective date of the Merger, AGBA will domesticate to the United States as a Delaware corporation and will, for all purposes of the laws of the State of Delaware, be deemed to be the same entity as AGBA. Upon the Domestication, among other things, all AGBA ordinary shares, par value $0.001 per share will automatically convert into the same number of shares of common stock of Delaware Parent.