A new partnership marks a new chapter in the BKFC story.
(Photo courtesy: BKFC)
Triller Corp., the parent company of Bare Knuckle Fighting Championship (BKFC), has recently been acquired by financial company, AGBA. The exciting merger will lead to many different advancements at Triller, and BKFC.
Below is the official press release by AGBA.
LOS ANGELES, April 19, 2024 – NASDAQ-listed, AGBA Group Holding Limited (“AGBA”), has previously announced that on April 18, 2024, it has entered into a definitive merger agreement (the “Merger Agreement”) to combine AGBA with Triller Corp. (“Triller”), a leading Artificial Intelligence-driven social video platform (together, the “Merger” or the “Transaction”). Upon completion of the Transaction, AGBA will become a Delaware corporation that wholly owns Triller and AGBA itself will be majority-owned (80%) by current Triller stockholders and RSU holders.
The Boards of Directors of Triller and AGBA have agreed to value the Combined Group (i.e. AGBA + Triller) at US$4.0 billion. Triller shareholders will own 80% of the pro forma Combined Group representing a valuation of US$3,200 million (80% of US$4,000 million). AGBA has 74.4 million shares outstanding today, and current AGBA shareholders will own 20% of the pro forma Combined Group; the implied value of AGBA’s current outstanding shares at US$800 million (20% of US$4,000 million) is US$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 (the “Domestication”) and will, for all purposes of the laws of the State of Delaware, be deemed to be the same entity as AGBA (AGBA, when domesticated as a Delaware corporation, “Delaware Parent”). 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.
For more details, please refer to the Company’s Report on Form 8-K filed with the Securities and Exchange Commission on 18 April 2024. The latest press release is available on the company’s website, please visit www.agba.com/ir
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