Currenc Group Announces Extension of Exclusivity Period for Proposed Reverse Merger with Animoca Brands Corporation Limited
Rhea-AI Summary
Currenc Group (Nasdaq: CURR) announced an Amendment Deed with Animoca Brands and Currenc's CEO extending the exclusivity period for their proposed reverse merger to June 30, 2026. Under the November 2, 2025 term sheet, Animoca shareholders would own approximately 95% of the merged company, Currenc shareholders ~5%. Closing is targeted for Q3 2026 with a long stop date of Dec 31, 2026, extendable by six months. The parties cite continued due diligence progress and preparatory work toward definitive documentation.
Positive
- Animoca shareholders to own approximately 95% of merged entity
- Targeted closing in Q3 2026, providing a clear timeline
- Exclusivity extended to June 30, 2026 to advance due diligence
Negative
- Existing Currenc shareholders diluted to approximately 5% ownership
- Long stop date of Dec 31, 2026 indicates potential closing delays
News Market Reaction – CURR
In the May 6 session, CURR gained 11.49%, reflecting a significant positive market reaction. Argus tracked a peak move of +18.5% during that session. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. Trading volume was elevated at 2.8x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Acquisition Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 03 | Reverse merger announcement | Positive | -37.3% | Announced proposed reverse merger with Animoca Brands and ownership split details. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific history shows the initial reverse-merger announcement with Animoca Brands led to a sharp negative move, so today’s positive reaction to an extension of that same deal marks a contrast.
In the tagged acquisition history, Currenc’s key prior event was the Nov 03, 2025 announcement of the proposed reverse merger with Animoca Brands. That non-binding term sheet outlined Animoca owning about 95% of the combined entity and Currenc about 5%, with a Nasdaq-listed digital assets focus. Shares fell 37.3% on that news. Today’s exclusivity extension builds directly on that earlier proposal, indicating ongoing work toward the same transaction framework.
Key Terms
reverse merger financial
scheme of arrangement regulatory
exclusivity period financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Parties Extend Exclusivity Through June 30, 2026, Reaffirming Commitment to Proposed Transaction
SINGAPORE, May 06, 2026 (GLOBE NEWSWIRE) -- Currenc Group Inc. (Nasdaq: CURR) ("Currenc" or the "Company"), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (“AI”) solutions, today announced that it has entered into an Amendment Deed with Animoca Brands Corporation Limited (ACN: 122 921 813) ("Animoca Brands") and the Company’s Chairman and Chief Executive Officer, Alexander King Ong Kong, extending the exclusivity period under the previously disclosed term sheet for their proposed reverse merger (the "Proposed Transaction") from three months from the original execution date to June 30, 2026.
Transaction Background
On November 2, 2025, Currenc and Animoca Brands entered into a non-binding term sheet pursuant to which Currenc would acquire the entire equity interest of Animoca Brands by way of an Australian scheme of arrangement. Under the terms of the Proposed Transaction, shareholders of Animoca Brands would collectively own approximately
Exclusivity Extension
The Amendment Deed extends the exclusivity period, during which no party may solicit, initiate, encourage or respond to any proposals for competing transactions, from the original three-month term to June 30, 2026. The extension reflects the continued progress of the parties toward completing the Proposed Transaction, including advancement of due diligence and preparatory work toward definitive documentation. All other terms and conditions of the November 2, 2025 term sheet remain unchanged and in full force and effect.
Management Commentary
"Extending exclusivity through June 30 reflects the meaningful progress both teams have made since we announced this transaction in November," said Alexander King Ong Kong, Chairman and CEO of Currenc. "We remain fully committed to completing this merger and creating what we believe will be one of the world's leading publicly listed, diversified digital asset conglomerates on Nasdaq. We look forward to advancing toward definitive agreements and, ultimately, closing."
Yat Siu, co-founder and Executive Chairman of Animoca Brands, said: “The extension of the exclusivity period expands the window to complete the detailed work required to advance this proposed transaction. We believe a Nasdaq listing would provide a powerful platform to broaden our global institutional reach and reinforce our position within the digital asset economy. The proposed merger with Currenc remains a key strategic step in the long-term development of Animoca Brands.”
About Currenc Group Inc.
Currenc Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through AI. The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.
About Animoca Brands
Animoca Brands Corporation Limited (ACN: 122 921 813) is a global digital assets leader building blockchain and tokenized assets to advance the future of Web3 innovation. It has received broad industry and market recognition including Fortune Crypto 40, Top 50 Blockchain Game Companies 2025, Financial Times’ High Growth Companies Asia-Pacific, and Deloitte Tech Fast. Animoca Brands is recognized for building digital asset platforms such as the Moca Network, Open Campus, and The Sandbox, as well as institutional grade assets; providing digital asset services to help Web3 companies launch and grow; and investing in frontier Web3 technology, with a portfolio of over 600 companies and altcoin assets. For more information visit www.animocabrands.com or follow on X, YouTube, Instagram, LinkedIn, Facebook, and TikTok.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Any pre‑closing financings or the Proposed Merger are subject to conditions and may not occur, and any such financings are not expected to affect the relative ownership percentages described above. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor & Media Contact
Currenc Group Investor Relations
Email: investors@currencgroup.com
Source: Currenc Group Inc.
FAQ
What exclusivity change did Currenc (CURR) announce on May 6, 2026?
Currenc extended the exclusivity period to June 30, 2026. According to the company, the Amendment Deed lengthens the original three-month exclusivity to allow further due diligence and documentation work toward the proposed reverse merger.
How will ownership split after the proposed merger between Currenc (CURR) and Animoca Brands?
Animoca shareholders would hold about 95% and Currenc shareholders about 5%. According to the company, the allocation reflects the agreed terms in the November 2, 2025 term sheet for the Australian scheme of arrangement.
When is the proposed Currenc (CURR) and Animoca Brands merger expected to close?
The parties target closing in Q3 2026. According to the company, the transaction has a long stop date of Dec 31, 2026, which may be extended by six months by mutual agreement if needed.
What does the exclusivity extension to June 30, 2026 mean for competing bids for CURR?
No party may solicit or engage competing proposals during exclusivity. According to the company, the extension prevents solicitation of alternate transactions while parties advance due diligence and definitive agreements.
What are the next steps after Currenc (CURR) extended exclusivity with Animoca Brands?
Parties will continue due diligence and work toward definitive documentation. According to the company, the extension provides additional time to finalize transaction terms ahead of the targeted Q3 2026 close.