AGBA Stands Firm: The AGBA-Triller Merger is Value-Enhancing to All Stakeholders
LOS ANGELES, April 25, 2024 (GLOBE NEWSWIRE) -- AGBA Group Holding Limited (NASDAQ: AGBA) has become aware of a press release issued by Brodsky & Smith (“BS”) on April 23, 2024 which claims that BS is conducting an “investigation” of AGBA in connection with its signing of a merger agreement with Triller Corp. that was announced on April 18, 2024.
AGBA also has become aware of a similar press release issued by Halper Sadeh LLC (“HS”) on April 22, 2024. AGBA wishes to emphasize that the statements in the BS and HS press releases are frivolous and totally without merit, and if BS or HS initiates any legal claims based on the allegations in their press releases, AGBA will vigorously defend itself to the fullest extent permitted by law, and will seek any and all legally available remedies against such claimants as well as reimbursement of AGBA’s legal fees incurred in defending itself against these meritless claims.
AGBA believes that the proposed merger with Triller Corp will create significant value for all shareholders. Given the rapidly changing landscape in the social media industry, AGBA is confident that Triller is well-positioned to capitalize on the unprecedented opportunities. The proposed merger represents a unique combination of social media and content, as well as fintech and healthtech, leveraging the AI capabilities of the combined group.
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About AGBA Group:
Established in 1993, AGBA Group Holding Limited (NASDAQ: “AGBA”) is a leading one-stop financial supermarket based in Hong Kong offering the broadest set of financial services and healthcare products in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through a tech-led ecosystem, enabling clients to unlock the choices that best suit their needs. Trusted by over 400,000 individual and corporate customers, the Group is organized into four market-leading businesses: Platform Business, Distribution Business, Healthcare Business, and Fintech Business.
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Investor Relations and Media Contact:
| Ms. Bethany Lai |
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Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the outcome of any legal proceedings that may be instituted against us following the consummation of the business combination; expectations regarding our strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and our ability to invest in growth initiatives and pursue acquisition opportunities; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Hong Kong and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC, the length and severity of the recent coronavirus outbreak, including its impacts across our business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.
