RTTNews | Dec 22, 2021 10:11AM EST

10:10 Wednesday, December 22, 2021 (RTTNews.com) - SeaChange International, Inc. (SEAC) shares are trading more than 45 percent higher on Wednesday morning after the company announced a reverse merger with the social-video platform Triller Hold Co LLC.

The transaction is expected to close in the first quarter of 2022. Upon the merger, the new ticker symbol will be 'ILLR' and the company name will be changed to TrillerVerz Corp. The deal will value the combined company at around $5 billion.

TrillerVerz plans to diversify its revenue streams by expanding its global footprint and investing in new growth opportunities.

The boards of both TrillerVerz and SeaChange have approved the proposed Business Combination. The combined company will be led by TrillerVerz's CEO, Mahi de Silva, who will also become Chairman of the Board. Peter Aquino, President and CEO of SeaChange will join the TrillerVerz team.

Currently, SEAC is trading at $2.60, up 45.25 percent from the previous close of $1.79 on a volume of 59,754,453. For the 52-week period, the shares have traded in a range of $0.66 - $3.44 on average volume of 7,013,760.

Read the original article on RTTNews ( https://www.rttnews.com/3251156/seachange-international-surges-on-reverse-merger-agreement-with-triller.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved