Orangekloud Technology Issues Update on Proposed Merger with VeVe
Rhea-AI Summary
Orangekloud Technology (Nasdaq: ORKT) provided an update on its proposed merger with Orbis Technology Limited/VeVe on March 3, 2026. The company said parties remain committed but need additional time to finalize definitive agreement terms after a non-binding LOI announced February 11, 2026.
Management described negotiations as constructive and said it will announce further updates upon execution of the definitive agreement or other material developments.
Positive
- Parties remain committed to the proposed merger
- Management describes negotiations as constructive and ongoing
- Company will provide further updates upon execution or material developments
Negative
- Execution of a definitive agreement delayed, timing uncertain
- Only a non-binding LOI in place as of February 11, 2026
Market Reaction – ORKT
Following this news, ORKT has declined 8.77%, reflecting a notable negative market reaction. Argus tracked a peak move of +9.2% during the session. Our momentum scanner has triggered 11 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $1.04. This price movement has removed approximately $640K from the company's valuation.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
ORKT was down 4.84% while momentum-screened peers like LGCL and NXPL showed gains, suggesting a stock-specific setup rather than a broad software move.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 11 | Reverse merger LOI | Positive | +15.7% | Non-binding LOI for reverse merger with VeVe/Orbis announced. |
The prior VeVe reverse-merger LOI news on Feb 11, 2026 saw a strongly positive price reaction, indicating past acquisition headlines were greeted constructively.
Over the past few months, Orangekloud has balanced Nasdaq listing challenges with strategic moves. A delisting determination and prior bid-price issues pressured the stock, while the Feb 11, 2026 announcement of a non-binding LOI for a reverse merger with VeVe/Orbis drove a 15.69% gain, as the market reacted positively to the potential combination. Today’s update stays within that acquisition narrative, shifting focus from signing the LOI toward finalizing a definitive agreement.
Historical Comparison
In the last acquisition-tagged event, ORKT’s VeVe reverse-merger LOI on Feb 11, 2026 moved the stock 15.69% higher. Today’s update extends that same transaction, shifting from initial LOI disclosure to timing and status of definitive agreement talks.
The acquisition story has progressed from signing a non-binding LOI toward negotiating and documenting a definitive reverse merger implementation agreement with VeVe/Orbis.
Market Pulse Summary
The stock is down -8.8% following this news. A negative reaction despite the parties reaffirming commitment to the VeVe reverse merger would contrast with the upbeat response on Feb 11, 2026, when the LOI news saw a 15.69% move higher. Weakness could reflect concern about delayed timelines, execution risk, or ongoing Nasdaq compliance overhangs documented in recent 6-K filings, all of which could temper enthusiasm around the proposed transaction.
Key Terms
non-binding letter of intent financial
definitive agreement financial
saas technical
no-code technical
AI-generated analysis. Not financial advice.
Singapore, March 03, 2026 (GLOBE NEWSWIRE) -- Orangekloud Technology Inc. (Nasdaq: ORKT) (“Orangekloud” or “the Company”), a Singapore-based technology company offering the eMOBIQ® No-Code platform for the development of mobile applications and SaaS subscription-based ISV Solutions, today announced an update on the Proposed Merger Transaction with Orbis Technology Limited (“Orbis”).
Orbis is a global digital intellectual property (IP) infrastructure company that enables leading brands to issue, authenticate, and monetise licensed digital assets at scale. VeVe is Orbis’s flagship consumer-facing brand and marketplace, serving as a distribution and demand engine for the Group’s underlying IP infrastructure.
As previously disclosed in the Company’s Press Release from February 11, 2026, Orangekloud Technology has entered into a non-binding Letter of Intent (“LOI”) with VeVe and indicated that the parties were working toward the execution of a definitive agreement on or around February 28, 2026.
The Company today announced that while both parties continue to engage in active discussions and negotiations, both parties remain committed to the proposed transaction, but additional time is required to finalize certain terms of the definitive agreement.
Management believes the discussions remain constructive and continue to work diligently with VeVe to complete the negotiation and documentation process in the near term. The Company intends to provide further updates upon the execution of the definitive agreement or any further material developments.
About Orangekloud Technology Inc.
Orangekloud Technology Inc. (NASDAQ: ORKT) is a Singapore-based technology company which offers the eMOBIQ® No-Code platform to develop mobile applications specially designed for Small and Medium Enterprises (SMEs) and corporations. A suite of eMOBIQ® mobile applications designed to digitalize and streamline operations in warehousing, sales ordering, delivery, manufacturing, and other key areas. The industry sectors focused on include Food Services & Manufacturing, Precision Engineering, Construction, etc.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and OrangeKloud Technology Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
OrangeKloud Technology Inc. IR Contact:
Steven Chu, COO and IR Officer
70 Bendemeer Road #04-04 Luzerne
Singapore 339940
(+65) 6317 2050
Email: ir@orangekloud.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
FAQ
What did Orangekloud (ORKT) announce about the proposed merger with VeVe on March 3, 2026?
Does the March 3, 2026 update from ORKT confirm a signed merger agreement with VeVe?
What timeline did Orangekloud provide for completing the definitive agreement with VeVe?
What is the status of the Letter of Intent (LOI) between Orangekloud (ORKT) and VeVe as of March 3, 2026?
How will Orangekloud inform investors about material developments in the ORKT–VeVe merger process?
