Orangekloud Signs Letter of Intent with Orbis
Orangekloud Technology announced the signing of a non-binding Letter of Intent with a New Zealand-based technology company, Orbis Technology. Orbis is a global digital intellectual property infrastructure company that enables leading brands to issue, authenticate, and monetise licensed digital assets at scale. The Group operates across IP ingestion, rights management, marketplace infrastructure, and secondary-market monetisation, providing an end-to-end platform for digital IP lifecycle management. VeVe is Orbis's flagship consumer-facing brand and marketplace, serving as a distribution and demand engine for the Group's underlying IP infrastructure. Pursuant to the LOI, the Company and Orbis desire to negotiate a transaction with regards to the acquisition and continued operation of VeVe by the Company, through the private issuance and sale of Company shares, for the acquisition of the entire issued share capital and undertaking of Orbis. Following the Reverse Merger Transaction, co-founders and shareholders of Orbis would collectively own the majority of the issued shares in the Company, and current shareholders of the Company would hold a minority stake. The Company expects to continue with the dual-class share structure following the Reverse Merger Transaction. The parties are working to finalise terms in order to proceed toward a definitive implementation agreement on or around February 28, 2026.
