Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 126

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 126
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 into an Agreement and Plan of Merger (the “ Merger Agreement”) with the Company, Real
Messenger, RM2 Limited, and an exempted company incorporated with limited liability in the Cayman Islands and a wholly-owned
subsidiary of the Company (“ Merger Sub”).

On
November 19, 2024 (“ Closing Date”), pursuant to the Merger Agreement, Nova SPAC merged with and into Merger Sub (the
“ Reincorporation Merger”), with Merger Sub surviving the Reincorporation Merger as a wholly-owned subsidiary of the
Company and the outstanding ordinary shares of Nova SPAC being converted into the right to receive the ordinary shares of the
Company. Immediately following the Reincorporation Merger, and as part of the same overall transaction as the Reincorporation
Merger, Merger Sub merged with and into the Real Messenger (the “ Acquisition Merger”, and together with the
Reincorporation Merger, the “ Mergers”), with the Merger Sub surviving the Acquisition Merger as a wholly-owned
subsidiary of the Company and the outstanding ordinary shares being converted into the right to receive the ordinary shares of the
Company.

On
the Closing Date, upon consummation of the Business Combination, 9,321,281 8,871,281 6,400,000 1,900,000 4,500,000 450,000 1,833,152 537,629 500,000 50,500

Immediately
after giving effect to the Business Combination, the Company has4,821,281Class A Ordinary Shares issued and outstanding,4,500,000and4,050,000Class B Ordinary Shares issued and outstanding, respectively, among which,450,000Class B Ordinary Shares are holdback shares in escrow for eighteen months, and6,546,254warrants issued and outstanding.

The
transactions were accounted for as a reverse merger in accordance with the U. S. GAAP because the primary assets of Nova SPAC would
be nominal following the close of the Business Combination. Under this method of accounting, Nova SPAC was treated as the
“acquired” company for financial reporting purposes and Real Messenger was determined to be the accounting acquirer
based on the terms of the Business Combination and other factors including: (i) Real Messenger Corporation shareholders have a
majority of the voting power of the combined company, (ii) Real Messenger Corporation comprises