Triller to acquire SpaceX exposure as treasury asset via fund structure

Triller Group Inc. (Nasdaq: ILLR; ILLRW) has entered into definitive agreements to acquire a position providing economic exposure to SpaceX (Nasdaq: SPCX), which the company intends to hold as a strategic treasury asset on its balance sheet, according to a press release statement.

The position will be held through an established fund structure via a wholly-owned special-purpose subsidiary and financed through a secured financing arrangement. Triller said the position was established ahead of SpaceX's public listing and is being acquired at a discount to its current market value.

Wing-Fai Ng, Group Chief Executive Officer, said: "SpaceX is one of the most extraordinary companies of our generation, and we are securing meaningful exposure to it at a compelling entry point and placing it at the very heart of our balance sheet."

Triller described the transaction as positioning the company as one of the few Nasdaq-listed companies with disclosed, balance-sheet SpaceX exposure. The financing is secured by the underlying position, and the company said it retains a portion of the position as treasury for the benefit of shareholders.

The transaction is expected to close within days, subject to customary closing conditions. Triller said it intends to provide further detail in filings with the U.S. Securities and Exchange Commission.

Triller Group operates a social media and live-streaming platform alongside AGBA Group, a Hong Kong-based financial services business with operations across Asia.

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