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Announced

AGBA Acquisition to acquire the platform and IFA business of Convoy Global Holdings for $400m.

Synopsis

AGBA Acquisition, a British Virgin Islands company incorporated as a blank check company, agreed to acquire 100% of the Platform Business, a platform business, which include B2B, FinTech, Retail and Healthcare platforms, and 30% of IFA Business, an independent financial advisory business, of Convoy Global Holdings, a diversified financial institution based in Hong Kong, for $400m. Convoy or its affiliate will receive 30m newly issued shares of the post-combined company, with a deemed price per share of $10 plus $100m in cash. Upon closing of Transaction, AGBA plans to remain NASDAQ-listed and trade under a new ticker symbol.

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