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Global digital asset financial services provider Amber is set to become a publicly listed company on the Nasdaq Global Market through a merger with iClick Interactive Asia Group Limited, according to an announcement on Tuesday. Upon completion of the merger, iClick will be renamed "Amber International Holding Limited" and will commence trading under the new ticker symbol "AMBR" on Nasdaq, effective March 13, 2025.
This strategic move marks a significant milestone for Amber, a prominent player in the cryptocurrency industry providing a wide array of financial services to institutional and high-net-worth investors globally. The reverse merger will see iClick, previously an online marketing and enterprise solutions provider, transform into a publicly traded entity focused on digital assets under the Amber brand.
To expedite the merger process, iClick and Amber DWM have entered into a Framework Agreement, amending and waiving certain conditions of their original Merger Agreement signed in November 2024. These adjustments are designed to streamline the path to completion, particularly concerning the restructuring of Amber DWM's assets and the necessary regulatory approvals. While certain regulatory approvals for asset restructuring and for iClick becoming a controller in Amber DWM's subsidiary, Sparrow Tech Private Limited, may be finalized after the merger closing, the Framework Agreement ensures iClick will immediately benefit economically from these entities. Specifically, a subsidiary of Amber DWM will channel 100% of the net income from key contracts and Sparrow Tech Private Limited to iClick post-merger, even while approvals are pending.
iClick also confirmed that it received Nasdaq approval for the listing of "Amber International Holding Limited" under the ticker "AMBR" on March 11, 2025. With both the Framework Agreement in place and Nasdaq listing secured, all conditions precedent to the merger are now satisfied or expected to be at closing.
The merger also brings significant leadership changes to the newly formed Amber International Holding. Michael Wu, co-founder of Amber Group, will assume the role of board chairman, providing strategic direction for the publicly listed entity. Wayne Huo, another Amber Group co-founder, will be appointed as CEO and director, taking the helm of the company's day-to-day operations. Several current iClick directors will continue to serve on the board, ensuring continuity and integration. Josephine Ngai will take on the role of chief financial officer, overseeing the financial operations of the combined entity, while Terence Li will become chief strategy officer, responsible for guiding the company's strategic initiatives.
Amber Premium, the business division driving this Nasdaq listing, is described as a leading digital wealth management services platform within Amber Group. It offers private banking-level solutions tailored for the crypto economy, targeting institutions and high-net-worth individuals seeking sophisticated digital asset management. Amber Premium develops and supports innovative digital wealth products and services, providing institutional-grade access, operations, and support with the aim of becoming the premier one-stop solution for digital wealth management in the Web3 space.
iClick Interactive Asia Group Limited, founded in 2009, brings its existing Nasdaq listing and a history as a provider of online marketing and enterprise solutions in Asia to the merger. The acquisition of Amber DWM and the subsequent name and ticker change signifies a complete strategic pivot for iClick towards the high-growth digital asset sector.
