Animoca Brands delays Nasdaq listing plan through Currenc merger
Animoca Brands is pausing its planned route to the public market through a reverse merger with Nasdaq-listed Currenc Group. The Hong Kong-headquartered gaming and investment company says the two sides made the decision jointly after reassessing market conditions and the expected timeline for closing the deal.
Highlights
- Animoca Brands has suspended its proposed reverse merger with Currenc, delaying its Nasdaq listing plan and leaving future discussions contingent on improved conditions.
- Animoca shareholders would have owned 95% of the combined company under the merger, but ongoing audit and compliance requirements prompted the transaction halt.
- The pause underscores persistent regulatory and market challenges digital asset companies face in accessing U.S. public markets, with Animoca still pursuing public listing opportunities.
Merger suspension alters listing timeline
As reported by Cointelegraph, Animoca announced Tuesday that it has suspended the proposed transaction under which Currenc would have acquired the company and taken it onto Nasdaq through a reverse merger.Under the earlier structure, Animoca shareholders would have owned 95% of the combined Nasdaq-listed company. Animoca says the parties may resume discussions if conditions improve and the transaction becomes more workable.
Yat Siu, executive chairman of Animoca Brands, says the company is continuing comprehensive audit processes needed to meet the compliance standards of a major public exchange. He adds that the group is still pursuing what it sees as the best available paths to a public listing.
Compliance demands and market backdrop remain central
The decision highlights how market conditions and execution timing continue to shape listing strategies for digital asset and gaming companies seeking access to U.S. capital markets. A reverse merger can offer a faster route to market, but it still depends on regulatory readiness, financial review work and a viable closing window.Animoca, whose portfolio includes The Sandbox, Moca Network and Open Campus, was previously listed on the Australian Securities Exchange before being removed in March 2020. The latest pause leaves open the possibility of a future Nasdaq debut, but only if market and compliance conditions become more supportive.
In our earlier article on Iambic Therapeutics’ planned Nasdaq IPO, we highlighted how biotech issuers are still moving ahead with U.S. listings despite a volatile market backdrop. We also noted that Iambic is positioning its AI-driven drug discovery platform as a key growth driver, supported by major backers and a multi-year collaboration with AbbVie.
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