AGBA (AGBA) and Triller said Friday they have finalized all necessary steps for their upcoming merger, expected to be completed around Oct. 14, pending final Nasdaq approval.
As part of the merger, AGBA will undergo a reverse stock split at a 4-to-1 ratio to comply with Nasdaq requirements. The reverse split will be effective around Oct. 14 and the company expects its shares to begin trading on a split-adjusted basis under the ticker "ILLR" around Oct. 15.
AGBA said fractional shares resulting from the split will be rounded up to the nearest whole share and stockholders' overall investment value will remain unchanged.
The exercise prices and underlying shares of all outstanding warrants related to AGBA and Triller will be adjusted to reflect the stock split, AGBA said.
AGBA shares rose more than 20% in recent premarket trading.
Price: 1.2400, Change: +0.21, Percent Change: +20.39
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