Orangekloud Technology Inc. (NASDAQ:ORKT) ("Orangekloud" or "the Company"), a Singapore-based technology company offering the eMOBIQ® No-Code platform for the development of mobile applications and SaaS subscription-based ISV Solutions, today announced an update on the Proposed Merger Transaction with Orbis Technology Limited ("Orbis").
Orbis is a global digital intellectual property (IP) infrastructure company that enables leading brands to issue, authenticate, and monetise licensed digital assets at scale. VeVe is Orbis's flagship consumer-facing brand and marketplace, serving as a distribution and demand engine for the Group's underlying IP infrastructure.
As previously disclosed in the Company's Press Release from February 11, 2026, Orangekloud Technology has entered into a non-binding Letter of Intent ("LOI") with VeVe and indicated that the parties were working toward the execution of a definitive agreement on or around February 28, 2026.
The Company today announced that while both parties continue to engage in active discussions and negotiations, both parties remain committed to the proposed transaction, but additional time is required to finalize certain terms of the definitive agreement.
Management believes the discussions remain constructive and continue to work diligently with VeVe to complete the negotiation and documentation process in the near term. The Company intends to provide further updates upon the execution of the definitive agreement or any further material developments.