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

News Market Reaction – ORKT

-8.77%

11 alerts

-8.77% Session close to close

+9.2% Peak Tracked

-15.0% Trough Tracked

$6.66M Market Cap

0.2x Rel. Volume

In the Mar 4 session, ORKT declined 8.77%, reflecting a notable negative market reaction. Argus tracked a peak move of +9.2% during that session. Argus tracked a trough of -15.0% from its starting point during tracking. Our momentum scanner triggered 11 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -8.8% in the session following this news. A negative reaction despite the parties re...

Analysis

The stock moved -8.8% in the session 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 Figures

Target date for definitive agreement: February 28, 2026

1 metrics

Target date for definitive agreement February 28, 2026 Initial LOI goal for signing definitive merger agreement

Previous Acquisition Reports

1 past event · Latest: Feb 11 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 11	Reverse merger LOI	Positive	+15.7%	Non-binding LOI for reverse merger with VeVe/Orbis announced.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

The prior VeVe reverse-merger LOI news on Feb 11, 2026 saw a strongly positive price reaction, indicating past acquisition headlines were greeted constructively.

Recent Company History

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.

Key Terms

non-binding letter of intent, definitive agreement, saas, no-code

4 terms

non-binding letter of intent financial

"entered into a non-binding Letter of Intent (“LOI”) with VeVe"

A non-binding letter of intent is a preliminary document that outlines the main terms and expectations of a proposed transaction—such as a merger, acquisition, investment or partnership—without creating a legally enforceable obligation to complete the deal. Think of it as a written handshake or shopping list: it signals serious interest and sets the framework for negotiations and due diligence, which can move markets, but it does not guarantee the transaction will happen until a final, binding agreement is signed.

definitive agreement financial

"additional time is required to finalize certain terms of the definitive agreement"

A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.

saas technical

"SaaS subscription-based ISV Solutions, today announced an update"

SaaS, or Software as a Service, is a way of delivering computer programs over the internet, allowing users to access and use them through a web browser without needing to install or maintain the software themselves. For investors, it highlights a business model where companies generate recurring revenue by providing ongoing access to their software, often leading to predictable income and growth potential.

no-code technical

"offering the eMOBIQ® No-Code platform for the development of mobile applications"

No-code describes software platforms that let people build apps, automations, or websites using visual tools, drag-and-drop blocks and prebuilt templates instead of writing computer code. For investors, no-code matters because it can speed product launch and cut development costs—like assembling a piece of furniture from a kit instead of crafting it by hand—while also creating considerations around scalability, vendor dependence and long-term maintenance that can affect a company’s growth and margins.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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?

Orangekloud said the parties remain committed but need more time to finalize the definitive agreement. According to the company, discussions are constructive and additional negotiation and documentation time is required before signing.

Does the March 3, 2026 update from ORKT confirm a signed merger agreement with VeVe?

No, the update does not confirm a signed merger agreement; it reports ongoing negotiations. According to the company, only a non-binding LOI existed and parties are working toward a definitive agreement in the near term.

What timeline did Orangekloud provide for completing the definitive agreement with VeVe?

Orangekloud did not provide a firm timeline and said more time is required to finalize terms. According to the company, management expects to complete negotiation and documentation in the near term but gave no specific date.

What is the status of the Letter of Intent (LOI) between Orangekloud (ORKT) and VeVe as of March 3, 2026?

The LOI remains non-binding and serves as the basis for continued talks between the parties. According to the company, the LOI was disclosed February 11, 2026 and negotiations are ongoing toward a definitive agreement.

How will Orangekloud inform investors about material developments in the ORKT–VeVe merger process?

Orangekloud said it will provide updates upon execution of the definitive agreement or other material developments. According to the company, investors can expect formal announcements when negotiation milestones are reached or agreements are executed.