Akin Gump, K&L Gates steer merger deal taking video app Triller public

Signage is seen outside of the law firm Akin Gump Strauss Hauer & Feld LLP in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comTriller to go public in reverse merger valued at $5 billionAnother video sharing platform, Rumble, recently went public via a SPAC mergerThe company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page.(Reuters) – Akin Gump Strauss Hauer & Feld is guiding short-video social app Triller as it goes public in a $5 billion reverse merger with video streaming software company SeaChange International Inc, which is advised by K&L Gates.Los Angeles-based TikTok rival Triller previously considered going public through a blank-check merger and direct listing before it announced the deal with SeaChange Wednesday, Reuters has reported.In a reverse merger, a private company goes public by buying a listed company.Register now for FREE unlimited access to Reuters.comThe K&L Gates attorneys advising SeaChange include corporate partners Robert Matlin, John Bicks, David Bartz, Jonathan Barron, Adam Tejeda and Lisa Stark, the firm said.Akin Gump did not immediately respond to a request for the names of the attorneys representing Triller.The deal comes after another video sharing platform, Rumble Inc, said at the beginning of December that it was planning a public debut through a $2.1 billion merger with a special purpose acquisition company.Rumble has tapped Willkie Farr & Gallagher and DLA Piper as its legal advisors, while Hughes Hubbard & Reed and Bennett Jones represented the SPAC, according to a press release.Matlin of K&L Gates said that these social media companies’ decisions on whether and how to go public depend largely on their valuation and need for financing.”If the market stays strong, companies will do the public-offering route,” Matlin said. “If the market moves down or sideways, companies will stay private longer. That’s something we’ll have to watch for, how the market opens up in 2022.”The year 2021 has proven busy for law firm mergers and acquisitions practices, with firms supporting about 18,600 global deals worth more than a total of $4.43 trillion to date, according to data from Refinitiv. In the same period last year, law firms contributed to roughly 15,100 deals worth $2.8 trillion, the data shows.Read more:Short-video app Triller to go public via $5 bln merger with SeaChangeExclusive – TikTok rival Triller explores deal to go public – sourcesTriller owner prepares direct listing amid social media pivot -sourcesRegister now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.Sierra JacksonSierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. Reach her at sierra.jackson@thomsonreuters.com