TROOPS, Inc. (NASDAQ: TROO) Subsidiary Intends to Acquire 49% of a Taiwan-based Co-working Space Operator WORK, Inc., with Path to Full Ownership

HONG KONG, July 14, 2025 /PRNewswire/ -- TROOPS, Inc. (Nasdaq: TROO) ("TROOPS" or the "Company"), today announced its wholly-owned subsidiary Giant Connection Limited (the Purchaser") has recently entered into a Letter of Intent ("LOI") with WORLD HONOR HOLDINGS LIMITED (the "Vendor"), to acquire 49% share ownership of WORK, Inc., a British Virgin Islands co-working space operator with operations in Taiwan. The transaction includes a put option for the Vendor to sell the remaining 51% share ownership to the Purchaser in the future. Consideration will be paid via convertible notes linked to TROOPS shares, priced at 80% of the lower of (i) the pre-signing closing price or (ii) the 60-day average. Key conditions include due diligence, regulatory approvals (including NASDAQ and SEC), and the Purchaser's commitment to develop a 7,000 square feet co-working space in Hong Kong and a dedicated mobile application.

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