Singapore's Vertex Technology Acquisition Corp (VTAC) will buy live streaming platform 17LIVE Inc for up to S$925.1 million (about $676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday.
will buy live streaming platform 17LIVE Inc for up to S$925.1 million , the special purpose acquisition company backed by state investor Temasek said on Monday.17LIVE had just over half a million average monthly active users in the first half of fiscal 2023 and counts Japan and Taiwan as its key markets."We see 17LIVE as a company at its inflection point, backed by a strong management bench," VTAC Chief Executive Jiang Hong Hui said.
VTAC will issue up to 160.6 million new shares at S$5.00 each and another 24.4 million new shares once certain financial targets are met. VTAC said it expects the necessary approvals to complete the deal by the end of 2023 after which the company will be renamed 17LIVE Group Ltd and trade on the Singapore stock exchange. Australian billionaire Gina Rinehart's Hancock Prospecting increased its stake in lithium miner Liontown Resources , the company said, moving it closer to being able to block a $4.3 billion bid by U.S.-based Albemarle for Liontown.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BIS and Central Banks Make Waves with Successful CBDC Test in Project MarianaBIS, France, Singapore, and Switzerland collaborate in Project Mariana, testing cross-border trading of wCBDCs.
Read more »
Democrats take floor, stall for time while parsing through McCarthy’s new stopgap billHouse Democrats are scrambling to buy time to figure out their position on House Speaker Kevin McCarthy’s stopgap bill, using arcane rules to buy as many minutes as they can.
Read more »
Madisyn Shipman Is 'Reclaiming My Power' With Playboy Creator Platform‘Game Shakers’ alum Madisyn Shipman explained why she joined Playboy’s creator platform
Read more »
Louis Vuitton Joins Discord to Celebrate Their New Virtual JourneyThe video and text communication platform will showcase the evolving expertise of the Maison
Read more »