Currenc Group Inc. (Nasdaq: CURR) (Currenc or the Company), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, has announced that it has entered into a non-binding term sheet with Animoca Brands Corporation Limited (Animoca Brands), a global digital assets leader, in relation to a potential acquisition by Currenc of 100% of Animoca Brands’ issued shares via an Australian scheme of arrangement.
Under the terms of the proposed transaction, all of the shares of Animoca Brands would be acquired by Currenc in exchange for newly issued shares in Currenc. At implementation of the proposed transaction, Animoca Brands shareholders that have their shares acquired would collectively own 95% of the issued shares in Currenc (subject to agreeing the treatment of convertible instruments). Implementation of the proposed transaction is expected to occur by the end of calendar year 2026.
Latham & Watkins LLP represents Animoca Brands in the proposed transaction with a team led by partners Frank Sun, Paul Dudek, and Haim Zaltzman, with associates Mark Hu and Jae Lee.
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