New York, June 25, 2026, 12:05 EDT
- Triller Group Inc. (NASDAQ:ILLR) traded at $3.57, up about 364%, with volume at 150.4 million shares shortly before noon in New York.
- The turnover was about 238 times Google Finance’s listed average volume and more than seven times its reported share count.
- Triller agreed to buy SpaceX-linked exposure for $411.3 million, a deal size about 5.8 times Triller’s implied market value at the latest quote.
Triller Group Inc. (NASDAQ:ILLR) shares jumped more than fourfold on Thursday after the company said it would buy exposure to Space Exploration Technologies Corp (NASDAQ:SPCX), known as SpaceX, in a transaction whose purchase price is far larger than Triller’s own public equity value.
The stock traded at $3.57 at 11:49 a.m. EDT, up about 364%, after opening at $2.56. Volume reached 150.4 million shares, against Google Finance’s listed average volume of 632,130 shares and shares outstanding of 19.75 million. Cboe data showed a volatility pause in ILLR at 9:44:54 a.m. ET, with trading resumed at 9:54:54 a.m. ET.
The unusual part is scale. Triller’s SEC filing said its subsidiary Trendy Reach Holdings Limited agreed to buy 100% of a Bahamian vehicle that owns exposure, through Fortune Offshore Fund – Gigafund, to 3,917,185 SpaceX Class A share equivalents. The purchase price is $411.3 million, or $105 per SpaceX share equivalent.
At Triller’s late-morning price and Google Finance’s share count, the company’s implied equity value was about $70.5 million. The SpaceX-linked purchase price was about 5.8 times that. SpaceX shares traded at $152.21, so the $105 price was about 31% below the public quote, based on the same late-morning market data.
“This is a transformational step for our Company,” Triller Chief Executive Wing-Fai Ng said in the company’s release. He said the company was putting the SpaceX exposure “at the very heart of our balance sheet.” Stock Titan
The deal is not closed. The filing said closing must occur no later than July 22, the purchase price will be held in escrow, and closing conditions include full escrow funding and due diligence satisfactory to the buyer. The filing also said the holdings interests, share equivalents and SpaceX shares have not been registered under the Securities Act.
Ng also addressed the 1-for-10 share consolidation that took effect this week. “The reverse split is not the story of this Company,” he wrote in a shareholder message. He said “new capital is imperative” and that management was “highly sensitive to dilution.” GlobeNewswire
Triller announced the share consolidation on June 18, with post-consolidation trading set to begin June 23. The company said shares outstanding would fall to about 19.9 million from about 198.9 million. Nasdaq Trader separately posted the 1-for-10 reverse split and the new CUSIP.
The split also matters for listing risk. Nasdaq had granted Triller until June 30 to regain compliance with the $1 minimum bid rule. The company must show a closing bid price of at least $1 for 10 straight business days on or before that date.
Shareholders had already given Triller room to raise capital. A June 11 SEC filing said holders approved private placements, including a potential PIPE of up to $300 million, consisting of 200 million to 300 million common shares at $1.00 to $1.50 a share. They also approved a 2026 equity plan with 39.6 million shares reserved, before the 1-for-10 split took effect.
For investors, the trade is now less about a media app and more about whether a small, recently reverse-split issuer can close, finance and carry a large structured position in another public company without heavy dilution or new balance-sheet strain. The purchase agreement says the buyer assumes post-closing obligations tied to carried interest, management fees and the SpaceX-linked fund interests.
