(Updates with the stock move in the headline and the first paragraph.)

Triller Group's (ILLR) shares were up 96% in Friday's premarket activity, a day after the company said it signed definitive agreements to acquire a "significant position" that provides economic exposure to SpaceX (SPCX) as a strategic treasury asset.

Financial terms of the acquisition were not disclosed, the company said Thursday.

The technology and media company said the position will be held through a special-purpose unit that was financed through a secured financing arrangement. It also said the acquisition was established "well ahead" of SpaceX's public listing, and is being acquired at a "meaningful discount" to its current market value.