Triller Group (NASDAQ:ILLR) shares surged on Thursday after the company announced a deal that will give it significant exposure to SpaceX Corp (NASDAQ:SPCX) through a new treasury investment structure.
The company’s shares were up more than 42% on Friday, bringing its weekly gains to about 187%
The company said its unit, Trendy Reach Holdings, has entered into a definitive agreement to acquire 100% of the membership interests of a Bahamian investment vehicle, SAC1, in a transaction valued at $411.3 million. Through the acquisition, Triller will gain exposure to approximately 3.9 million SpaceX shares held within the vehicle. The deal effectively places SpaceX-linked assets on Triller’s balance sheet as a strategic treasury holding, marking a notable shift in the company’s capital allocation approach.
The transaction is being executed through a wholly owned special-purpose subsidiary and is supported by a secured financing arrangement. Triller said the SpaceX position was established prior to any potential public listing of the private aerospace company and is being acquired at what it described as a meaningful discount to current implied market value. “This is a transformational step for our Company,” said Wing-Fai Ng, Group Chief Executive Officer. He added that the investment provides “meaningful exposure” to SpaceX and is intended to reshape how investors evaluate Triller’s balance sheet.