SEAC Stock: 15 Things We Know as TikTok Competitor Triller Confirms Reverse Merger Plans

SeaChange International(NASDAQ:SEAC) stock is rocketing higher on Wednesday thanks to news of a merger agreement with Triller.

Let’s take in all that news below!

• The agreement will have Triller and SeaChange International enacting a reverse merger.
• That means that once the merger is complete, the new company will operate as TrillerVerz.
• To go along with that, the ticker for the company’s stock will switch from SEAC to ILLR.
• This has the two companies expecting a value of $5 billion for the combined company.
• TrillerVerz is looking to create a business focused on the Web3.0 movement.
• This has it looking to become the voice of users in the 18- to the 34-year-old age group.
• That would have it challenging TikTok as a social media platform for creators and influencers.
• When the deal closes, the new company will be led by TrillerVerz CEO Mahi de Silva.

• Peter Aquino, current president and CEO of SeaChange International, will stick around as part of the new company’s team.
• The Boards of Directors at both companies have given their support to the deal.
• This has the two companies expecting the reverse merger to close sometime in the first quarter of 2022.
• Rumors of a deal between the two companies kicked off last week.
• SEAC stock is experiencing heavy trading on today’s news.
• That has some 137 million shares of the stock changing hands.
• For the record, its daily average trading volume is closer to 7 million shares.

SEAC stock is up 9.5% on Wednesday.