Triller Group (NASDAQ:ILLR) shares surged on Thursday after the company announced a deal that will give it significant exposure to SpaceX Corp (NASDAQ:SPCX) through a new treasury investment structure.
The company’s shares were up more than 42% on Friday, bringing its weekly gains to about 187%.
The company said its unit, Trendy Reach Holdings, has entered into a definitive agreement to acquire 100% of the membership interests of a Bahamian investment vehicle, SAC1, in a transaction valued at $411.3 million. Through the acquisition, Triller will gain exposure to approximately 3.9 million SpaceX shares held within the vehicle.
The deal effectively places SpaceX-linked assets on Triller’s balance sheet as a strategic treasury holding, marking a notable shift in the company’s capital allocation approach. The transaction is being executed through a wholly owned special-purpose subsidiary and is supported by a secured financing arrangement.
Triller said the SpaceX position was established prior to any potential public listing of the private aerospace company and is being acquired at what it described as a meaningful discount to current implied market value.
“This is a transformational step for our Company,” said Wing-Fai Ng, Group Chief Executive Officer. He added that the investment provides “meaningful exposure” to SpaceX and is intended to reshape how investors evaluate Triller’s balance sheet.
The company also indicated that the structure establishes a dedicated SpaceX treasury position, making Triller one of the few publicly traded firms with disclosed balance-sheet exposure to the private company.
The transaction is expected to close in the coming days, subject to customary closing conditions and regulatory filings.