Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 400

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 400
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 price as contemplated
by the Definitive Proxy Statement (the “Redemption Price”), plus (ii) $ (the sum of (i) and (ii), the “Base Price”),
plus (iii) the result of (X) the Base Price, multiplied by (Y) the number of Commitment Shares, divided by (Z) the number of Puttable
Shares (such sum of (i), (ii) and (iii), the “Shares Purchase Price”); provided that the Shares Purchase Price will be reduced
by $ for the first full calendar quarter after 90 days following the Closing sooner than the Put Date that the Put occurs if the Put
does so occur, plus an additional reduction of $ if the Put occurs before 90 days following the Closing. The purchase price payable
by AGBA will be escrowed in the amount of the redemption price per share. At the election of AGBA, $ of the Shares Purchase Price
can be paid using Ordinary Shares rather than cash. The Meteora Backstop Agreement matures nine months after the closing of the Business
Combination.

The transaction was accounted for as a “reverse
recapitalization” in accordance with U.S. GAAP because the primary assets of AGBA would be nominal following the close of the Business
Combination. Under this method of accounting, AGBA was treated as the “acquired” company for financial reporting purposes
and both of TIL and TAC were determined to be the accounting acquirer based on the terms of the Business Combination and other factors
including: (i) TIL and TAC’s shareholders have a majority of the voting power of the combined company, (ii) TIL and TAC comprises
a majority of the governing body of the combined company, and TIL and TAC’s senior management comprises all of the senior management
of the combined company, and (iii) TIL and TAC comprises all of the ongoing operations of the combined entity. Accordingly, for accounting
purposes, this transaction was treated as the equivalent of the Company issuing shares for the net assets of AGBA, accompanied by a recapitalization.
The shares and net loss per ordinary share, prior to the Reverse Recapitalization, have been retroactively restated. The net assets of
AGBA were recorded at historical carrying amount, with no goodwill or other intangible assets recorded. Operations prior to the Reverse
Recapitalization are those of TIL and TAC.