AGBA Acquisition Limited shareholders approved pushing back the SPAC’s merger deadline up to two times until Nov. 16 from the current May 16 deadline.
There were 2,732,213 votes cast in support of the extension. A single vote was cast in opposition, according to the SPAC’s regulatory filing.
AGBA intends to combine with TAG and its five subsidiaries: B2B company TAG International Limited, TAG Asset Partners, OnePlatform International, OnePlatform Holdings Limited and TAG Asia Capital Holdings Limited, which engages in the fintech sector. AGBA will ultimately form two wholly-owned subsidiaries which will merge with TAG’s B2B and fintech subsidaries.
The transaction has an enterprise value of $555 million.
OnePlatform Holdings Limited and TAG Asia Capital Holdings Limited form an integral part of TAG’s wider portfolio of companies. Through their wholly-owned subsidiaries, OPH is engaged in B2B services and Fintech is engaged in the financial technology business. The platform businesses are wholly-owned by TAG Holdings Limited. Read more.
