Troops Planning Majority Purchase of Work Corporation

In a significant move, TROOPS, a Hong Kong-based company with diverse business interests, has announced its expansion into Asia's flexible workspace sector. The deal, subject to due diligence and regulatory approvals, including NASDAQ and SEC, marks a strategic step forward for TROOPS.

As part of the deal, TROOPS is committed to developing a 7,000 square foot co-working space in Hong Kong. To facilitate this growth, TROOPS will leverage WORK, Inc.'s existing presence in Taiwan and planned growth in Hong Kong. TROOPS' subsidiary, Giant Connection Limited, plans to acquire 49% of WORK, Inc., a co-working space operator in Taiwan.

Beyond the flexible workspace sector, TROOPS has ventured into the development and management of an online financial marketplace. This new addition to their business portfolio offers a range of financial products and services, likely involving technology-driven solutions. The online marketplace may be a response to the growing demand for digital financial services.

TROOPS' business interests also extend to money lending, consultancy services for insurance product referrals, and advisory and referral services for migration, education, and visa renewal. The company has an option to buy the remaining 51% of WORK, Inc. later.

Moreover, TROOPS is committed to developing a dedicated mobile application. The deal signals TROOPS' expansion into Asia's flexible workspace sector, but it also highlights the company's potential growth in the online financial marketplace, a promising area for the future.

The deal consideration will be paid via convertible notes linked to TROOPS shares. The name of the CEO of TROOPS who announced its expansion into the Asian flexible workspace market is not mentioned in the provided search results.

In summary, TROOPS' expansion into the flexible workspace sector in Asia is a significant step for the company. The deal not only marks their entry into this sector but also highlights their potential growth in the online financial marketplace. The company's diverse business interests, including money lending, co-working spaces, and financial technology solutions, position it well for future growth in the region.