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How to buy Triller (ILLR) stock in Canada when it goes public

Here's everything we know so far about the Triller IPO.

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Triller is planning to go public by merging with SeaChange International, a video delivery and advertising company. Here's what we know about the deal so far and how to buy Triller stock in Canada when it becomes available.

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What we know about the Triller IPO

Popular US-based video-sharing social networking service, Triller, has confirmed that it plans to go public by merging with SeaChange International, Inc., a video delivery and advertising company.

Triller stands to receive around $250 million from the deal. The combined company is expected to have a market valuation of $5 billion.

SeaChange International currently trades on the Nasdaq Global Select Market under the ticker symbol "SEAC." After the merger, the company will be named TrillerVerz Corp. and will trade on the Nasdaq under the symbol "ILLR." The transaction is expected to take place in the first quarter of 2022, although the exact date has not been announced.

You can read more about the Triller–SeaChange merger in this registration document filed with the US Securities and Exchange Commission (SEC) on February 22, 2022. We'll update this page as more information becomes available.

SeaChange International (Nasdaq: SEAC) stock performance

What is Triller?

Triller is a music video app that allows users to take an entire song and shoot an editable, high-quality music video to it. It's co-owned by movie producer Ryan Kavanagh and is currently valued at about $1.5 billion—10X more than it was worth in 2019. The app has been downloaded more than 250 million times worldwide as of August 2020.

With music as its focus, Triller has received investments from major recording artists such as Snoop Dogg, Lil Wayne and The Weeknd. Big names like Cardi B and Alicia Keys have also used the app to shoot their own music videos. Triller even allowed fans to stream the hotly anticipated boxing match between former heavyweight champion Mike Tyson and Roy Jones Jr.

Kavanagh notes that Triller has about 65 million active users. However, Business Insider spoke with former employees who claim the numbers were inflated, something Kavanagh denies.

Nonetheless, Triller still falls behind its rival TikTok. That video app giant has been downloaded more than 2 billion times despite being younger than Triller.

On March 9, Billboard reported that Triller Network had acquired Verzuz, the livestream music platform created by Swizz Beatz and Timbaland. The deal brought a long list of artists into the network as equity holders.

Note: all dollar amounts on this page are in US dollars unless otherwise stated.

How to buy Triller stock when it starts trading

Once Triller goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare stock trading platforms. Use our comparison table to help you find a platform that fits your needs.
  2. Open your brokerage account. Complete an application with your details.
  3. Confirm your payment details. Fund your account.
  4. Research the stock. Find the stock by name or ticker symbol – ILLR – and research it before deciding if it's a good investment for you.
  5. Purchase now or later. Buy your desired number of stocks with a market order or use a limit order to delay your purchase until the stock reaches a desired price.

Will I be able to buy Triller stock in Canada?

You won't be able to buy Triller stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.

You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Qtrade, Wealthsimple, Scotia iTRADE and CIBC Investor's Edge.

Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).

How to buy international stocks in Canada

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Note: The dollar amounts in the table below are in Canadian dollars.

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Tax implications of buying US stocks in Canada

Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.

An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.

Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.

Speak with a tax professional to find out what rules and exceptions apply in your circumstances.

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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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