Triller Group surges 42% after $411M deal for SpaceX exposure

Triller Group Inc. surged 42% Friday after the social-media company struck a $411.3 million deal to acquire exposure to roughly 3.9 million SpaceX shares through a Bahamian investment vehicle, placing the aerospace company's equity at the center of its balance sheet.

"This is a major step for our Company," said Wing-Fai Ng, Group Chief Executive Officer at Triller Group. "SpaceX is one of the most extraordinary companies of our generation, and we are securing meaningful exposure to it at a compelling entry point."

The transaction, executed through Triller's wholly-owned subsidiary Trendy Reach Holdings, involves acquiring 100% of the membership interests of SAC1, a Bahamian investment vehicle. The position was established before SpaceX's public listing and is being acquired at a meaningful discount to its current implied market value, the company said. The deal is supported by a secured financing arrangement.

The acquisition positions Triller as one of the few Nasdaq-listed companies with disclosed balance-sheet exposure to SpaceX, the private rocket-and-satellite company valued at roughly $210 billion in secondary markets. The stock's weekly gain reached about 187%, reflecting investor appetite for indirect access to Elon Musk's space venture ahead of any potential public listing. The transaction is expected to close in the coming days, subject to customary conditions and regulatory filings.

Triller, which operates a social-media and live-streaming platform focused on music, sports, fashion and culture, also runs AGBA Group, a Hong Kong-based financial-services business. The company said the SpaceX treasury position is intended to reshape how investors evaluate its balance sheet.

This article is for informational purposes only and does not constitute investment advice.