SOPA - Society Pass Inc. Issues First Advance Notice to Strattners Bank to Continue its Growth Plans | Benzinga
SINGAPORE, April 24, 2024 (GLOBE NEWSWIRE) -- Society Pass Inc. (SoPa), a leading e-commerce ecosystem in Southeast Asia (SEA), announces its first drawdown on a financing line to continue its growth journey.
Following the recent securing of an equity line of up to $40 million, to support Society Pass's plans for potential public offerings of its subsidiaries, SoPa has issued its first advance notice to Strattners FZCO, the Family Office of Strattners Bank SA.
The notice entails the issuance of 1,000,000 shares priced at $0.18 per share, in accordance with the terms of the financing agreement. Under this agreement, the shares are acquired through a calculation based on a calculated market price multiplied by 96%, ensuring efficient capital deployment. In addition to this first financing, SoPa retains the right, though not the obligation, to sell up to $40,000,000 ...