Business
Society Pass (SoPa) Announces Closing of US$11.5 Million Underwritten Public Offering, Including Full Exercise of the Overallotment Option
SINGAPORE, Feb. 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), a leading Southeast Asian
About this update from Society Pass Incorporated
[{"type":"text","content":"SINGAPORE, Feb. 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), a leading Southeast Asian data-driven loyalty platform, today announced the closing of its underwritten public offering of 3,484,845 shares of common stock and accompanying warrants to purchase up to 3,484,845 shares of common stock, which includes 454,545 shares of common stock and warrants to purchase 454,545 shares of common stock issued pursuant to the full exercise of the underwriter’s over-allotment option, for aggregate gross proceeds to the Company of approximately US$11.5 million. Each share of common stock was sold together with one warrant at a combined purchase price of US$3.30. The warrants are immediately exercisable at a price of US$3.30 per share and will expire five years from the date of issuance. The shares of common stock and accompanying warrants could only be purchased together in the offering, but were issued separately and are immediately separable upon issuance. The warrants will not be listed on any exchange. Maxim Group LLC acted as sole book-running manager for the offering. The offering was conducted pursuant to the Company's registration statement relating to the Shares which was declared effective by the SEC on February 8, 2022. A final prospectus relating to the offering was filed with the SEC on February 10, 2022. Both the registration statement, as amended and the final prospectus are available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Society Pass SoPa’s customer loyalty and analytics platform has onboarded hundreds of thousands of registered consumers. SoPa provides merchants with SoPa.asia – an online commerce platform for users, alongside with #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS – a specializ...