AGBA Acquisition Completes $14 Million Private Placement with Triller Group Inc.

AGBA Acquisition (OTCMKTS:AGBAU) recently announced the completion of a significant financial agreement with Triller Group Inc., a move aimed at bolstering the company’s position within the market. The agreement entails a private placement offering totaling $14 million in shares of common stock and warrants of the Company. The shares are valued at $2.20 per share, with an additional warrant for the same number of shares available at an exercise price of $5.00 per share.

Triller Group Inc., represented by KCP Holdings Limited, a Cayman Islands exempt company, formalized this deal through a Securities Purchase Agreement (PIPE Purchase Agreement) on January 24, 2025. The transaction includes customary representations, warranties, and covenants, and the completion was subject to typical closing conditions.

Moreover, in conjunction with the private placement, a registration rights agreement was also inked between Triller and the Purchaser. As per this agreement, Triller commits to filing a resale registration statement with the U.S. Securities and Exchange Commission (SEC) within 60 days of the agreement date. This statement will facilitate the registration of shares issued to the Purchaser and those issuable upon exercise of the warrant. Triller pledges to diligently pursue SEC approval within 120 days of the agreement date.

The appointment of Mr. Roger C. Kennedy to the board of directors is another notable outcome of the PIPE Purchase Agreement. Mr. Kennedy, designated by the Purchaser, will serve as a non-executive director on the board along with key roles in various committees. The Company also formalized a Director Indemnification Agreement with Mr. Kennedy to safeguard his interests and liabilities related to his directorial responsibilities.

Following these significant events, the Company issued a press release on January 27, 2025, announcing the details of the transactions and emphasizing the momentum gained through this strategic partnership. This move underscores the Company’s commitment to sustainable growth and innovation within the market landscape.

As a result of this new financial agreement with Triller Group Inc., AGBA Acquisition stands poised to capitalize on enhanced opportunities and collaborative efforts to drive long-term success and shareholder value. This alignment sets the stage for a promising future for both entities in the evolving market environment.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AGBA Acquisition’s 8K filing here.

AGBA Acquisition Company Profile

AGBA Acquisition Limited does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the healthcare, education, entertainment, and financial services sectors in China.