Business
Society Pass (SoPa) Announces Pricing of US$26 Million Initial Public Offering
SINGAPORE, Nov 9, 2021 - (ACN Newswire) - - Society Pass Incorporated (Nasdaq: SOPA) ("SoPa" or the "Company"), a leading Southeast Asian data-driven loyalty
About this update from Society Pass Incorporated
[{"type":"text","content":"SINGAPORE, Nov 9, 2021 - (ACN Newswire) - - Society Pass Incorporated (Nasdaq: SOPA) (\"SoPa\" or the \"Company\"), a leading Southeast Asian data-driven loyalty platform, today announced the pricing of its US$26 million initial public offering, offering 2,888,889 shares of common stock (the \"Shares\") at a price of $9.00 per share. The shares have been approved for listing on the Nasdaq Capital Market (\"Nasdaq\") and will trade under the ticker symbol \"SOPA\" beginning November 9, 2021. The Company has granted the underwriters a 45-day option to purchase up to 433,333 additional shares at the initial public offering price to cover over-allotments, if any. The offering is expected to close on November 12, 2021, subject to customary closing conditions.Maxim Group LLC is acting as sole book-running manager for the offering.\"We are immensely proud to be the first Vietnam-based company to complete a traditional IPO on a stock market outside of Vietnam. As an acquisition-led technology company, this milestone marks the beginning of our next phase of growth as we expand beyond Vietnam into other parts of Southeast Asia with particular focuses on Philippines and Indonesia. Our Nasdaq IPO and access to public markets allow us to connect investors to some of the fastest growing retail e-commerce opportunities in the world,\" said Dennis Nguyen, Founder, Chairman and Chief Executive Officer, Society Pass.A registration statement relating to the Shares was declared effective by the SEC on November 8, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.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 PassSoPa'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 conv...