TRILLER INC SECURES US$310 MILLION EQUITY FUNDING

KUALA LUMPUR, Sept 30 (Bernama) -- Triller Inc (Triller) and GEM Global Yield LLC SCS (GGY) announced a binding US$310 million investment from GEM, the Luxembourg based private alternative investment group, in the form of a share subscription facility. (US$1 = RM4.635)

Under the agreement, GEM will provide Triller with up to US$310 million in equity capital for a 36-month term following a public listing of Triller’s common stock.

Triller will not be obligated to draw the full US$310 million but can do so in part or in whole at its discretion.

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Triller will control both the timing and amount of all drawdowns and will issue stock to GEM on each drawn down from the facility. Triller will also issue warrants to GEM, further aligning the interests of the companies.

Triller filed its private S-1 with the U.S. Securities and Exchange Commission last month and is submitting what it anticipates being the final S-1 concurrently with the closing of this facility.

The expectation is that trading will commence in early Q4 2022, according to a statement.

Triller has 10 business lines, eight of which are at break-even or profitable, and effectuates 750 million interactions per quarter, each of which is a potential monetisable transaction for the company in the future.

With the capital infusion from GEM, Triller will be able to make additional acquisitions to strengthen its toolbox for the creator community and reach breakeven or profitability in the short-term.

Pairing music culture with sports, fashion, entertainment, and influencers through a 360-degree view of content and technology, Triller is the AI-powered open garden technology platform for creators. 

-- BERNAMA