Technology & Telecommunication Acquisition Seeking 6 More Months to Seal Super Apps Deal

In return, the SPAC would deposit 5.25 cents a share into trust for each month required under the extension.

TTA in October announced a deal with Malaysia-based Super Apps Holdings Sdn Bhd at a pro forma enterprise value for the combined company of approximately $1.1 billion.

Terms call for the combined company to receive $1.1 billion, less debt and any redemptions. A payment of $235 million will be made at closing with the remaining $865 million subject to earn-out provisions.

Super App immediately prior to the closing will purchase 60% of MobilityOne's ownership interest in OneShop Retail Sdn. Bhd. MobilityOne has developed an end-to-end e-commerce solution which connects various service providers across several industries such as , telecommunication and transportation through multiple distribution devices such as EDC terminals, short messaging services, ATMs and Internet banking. Read more.


Source: Technology & Telecommunication Acquisition Seeking 6 More Months to Seal Super Apps Deal