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HONG KONG - iClick Interactive Asia Group Limited (NASDAQ: ICLK), a prominent online marketing and enterprise solutions provider in Asia whose stock has surged nearly 182% over the past six months according to InvestingPro data, announced today that it is nearing the completion of its merger with Amber DWM Holding Limited, following which it will trade on the Nasdaq Global Market under the new name "Amber International Holding Limited" and ticker symbol "AMBR" starting March 13, 2025.
The merger process included an Amendment, Waiver and Framework Agreement to modify certain terms of the original Agreement and Plan of Merger dated November 29, 2024. With a solid financial foundation showing more cash than debt and a healthy current ratio of 1.26 as reported by InvestingPro, this strategic move is expected to streamline the merger with Amber DWM, which will survive as a wholly-owned subsidiary of iClick. The merger is contingent upon a series of regulatory approvals and asset restructuring, including the acquisition of WhaleFin Markets Limited and the assumption of contracts by a subsidiary of Amber DWM.
iClick also announced that it has received approval from Nasdaq for the post-merger listing of its American Depositary Shares (ADSs), each representing five Class A ordinary shares. The company expects the merger to be effective as of today, with trading under the new symbol "AMBR" to commence the following day.
The Framework Agreement includes provisions for the completion of the DWM Asset Restructuring and the assumption of Sparrow Tech Private Limited as an indirect subsidiary of iClick, pending regulatory approvals. An intercompany services agreement has been established to ensure iClick receives the economic benefits of the merger while awaiting these approvals.
This strategic merger is anticipated to enhance iClick’s position in the digital wealth management sector, as Amber DWM, operating under the business brand Amber Premium, is a leading platform offering solutions tailored for the crypto economy to institutions and high-net-worth individuals. While currently trading at a modest market capitalization of $73.56 million and appearing slightly undervalued according to InvestingPro’s Fair Value analysis, the company faces profitability challenges that analysts expect to persist through the year.
The information in this article is based on a press release statement from iClick Interactive Asia Group Limited.
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