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AGBA/Triller $4bn Merger: The Group files its Preliminary Proxy Statement

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AGBA Group Holding filed a preliminary proxy statement on June 12, 2024, for its $4 billion merger with Triller Corp. This significant milestone indicates the merger is nearing completion. AGBA's Group President, Wing-Fai Ng, emphasized the team's dedication to developing Triller's next-generation social media and entertainment ecosystem. The team is also finalizing a new strategic plan and attracting global talent. For further information, refer to the preliminary proxy statement filed with the SEC.

Positive
  • AGBA filed a preliminary proxy statement, indicating the merger with Triller Corp is progressing.
  • The merger is valued at $4 billion, showcasing a significant potential growth.
  • AGBA and Triller are developing a next-generation social media and entertainment ecosystem, suggesting innovation and future market leadership.
  • The company is attracting world-class talent, which could enhance its strategic capabilities.
Negative
  • The merger's completion is still pending, which introduces uncertainty.
  • No specific financial metrics or performance guarantees were provided, which may concern investors.

The proposed $4 billion merger between AGBA Group Holding Limited and Triller Corp is a significant development. From a financial perspective, mergers of this magnitude can result in substantial changes in market capitalization and investor sentiment. The merger aims to create a new social media and entertainment ecosystem, which could enhance AGBA's market position. However, investors should be cautious about the execution risks and potential integration challenges. AGBA's share price could experience volatility as the market reacts to the news and awaits further details on the strategic plan and financial projections. Additionally, the success of the merger heavily depends on the effective integration of the two companies and the realization of projected synergies.

This merger places AGBA in a prime position within the social media and entertainment landscape, challenging established players like TikTok and Instagram. The potential market reach and user engagement from combining AGBA's and Triller's offerings could be substantial. However, the market is highly competitive and the ability of the new entity to attract and retain users will be critical. The statement mentions attracting world-class talent, which is important for innovation and growth. Investors should monitor user acquisition and retention metrics post-merger, as these will be indicators of the new entity's success in the market.

The filing of the preliminary proxy statement with the SEC is a necessary regulatory step in progressing with the merger. This document includes vital information for shareholders to make informed decisions about the merger's approval. Legal compliance and transparency are essential here. Investors should review the proxy statement for any disclosed risks, legal contingencies, or conditions that could affect the merger's completion. Legal issues can arise at any stage, potentially delaying or complicating the merger. Ensuring all regulatory requirements are met is important for the smooth finalization of this deal.

LOS ANGELES, June 12, 2024 (GLOBE NEWSWIRE) --  NASDAQ-listed, AGBA Group Holding Limited (“AGBA” or the “Company” or the “Group”), reports that on June 12, 2024, the company filed its preliminary proxy statement for its shareholder meeting to approve its $4,000,000,000 merger of AGBA and Triller Corp.

This marks an important milestone in the progress of our combined team at Triller and AGBA as the merger enters the final phase of completion.

Mr. Wing-Fai Ng, Group President of AGBA Group Holding Limited stated, “Our team is working in overdrive in creating Triller’s next-generation social media and entertainment ecosystem for creators and users. We believe our next generation of offerings will establish a new standard in the industry. Working with advisors and partners, our team is finalizing our new strategic plan. At the same time, we are fortunate to be attracting world-class talent around the world to join our Triller team.”

For more details, please visit www.agba.com/ir. For more details, please refer to the company’s preliminary proxy statement filed with the Securities and Exchange Commission on June 12, 2024.

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About AGBA Group:
Established in 1993, AGBA Group Holding Limited (NASDAQ: “AGBA”) is a leading one-stop financial supermarket based in Hong Kong offering the broadest set of financial services and healthcare products in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) 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 about AGBA, please visit www.agba.com

Investor Relations and Media Contact:

Ms. Bethany Lai
media@agba.com/ ir@agba.com
+852 5529 4500

 
Social Media Channels:
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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.


FAQ

What is the value of AGBA's merger with Triller Corp?

The merger between AGBA and Triller Corp is valued at $4 billion.

When did AGBA file the preliminary proxy statement for the merger with Triller Corp?

AGBA filed the preliminary proxy statement on June 12, 2024.

What is the significance of AGBA's merger with Triller Corp?

The merger aims to create a next-generation social media and entertainment ecosystem, potentially establishing a new industry standard.

Is the AGBA and Triller Corp merger finalized?

No, the merger is nearing completion but is still pending final approval.

Where can I find more details about AGBA's merger with Triller Corp?

More details can be found in the preliminary proxy statement filed with the SEC and on AGBA's investor relations website.

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