Animoca Brands suspends its merger deal aimed at taking the company public, though remains committed to relisting on a major exchange.
VC & Fundraising ·
Animoca Brands has suspended a merger deal that was meant to facilitate its public listing. The company stated it remains committed to relisting on a major exchange, with chairman Yat Siu emphasizing the value of corporate agility in decision-making.
The suspension marks a reversal of a prior strategy to go public through a merger structure. Rather than pursuing that specific path, the company is now exploring alternative routes to achieve a public listing on a major exchange.
The move leaves open which alternative listing approach Animoca will pursue next and on what timeline. The company has not disclosed the specific market conditions cited as the reason for the suspension, nor has it provided a revised timeline for achieving its relisting goal.