Animoca Brands announced that it has signed a letter of intent with Nasdaq-listed Currenc Group.

PANews reported on November 3 that Animoca Brands has signed a non-binding letter of intent with Nasdaq-listed Currenc Group Inc. regarding a potential proposal for Currenc to acquire 100% of the issued shares of Animoca Brands through a scheme of arrangement (the “Potential Transaction”). Under the terms of the Potential Transaction, Currenc will acquire all shares of Animoca Brands in exchange for newly issued shares under its Australian scheme of arrangement. If the Potential Transaction is completed and implemented, Animoca Brands will become part of a Nasdaq-listed conglomerate. Prior to the implementation of the Potential Transaction, Currenc may undergo a corporate restructuring. Upon completion of the Potential Transaction, Animoca Brands shareholders are expected to hold approximately 95% of Currenc's outstanding shares, and existing Currenc shareholders are expected to hold approximately 5% of Currenc's outstanding shares.