SOPA - Society Pass Set to Unlock and Monetize Current and Future Subsidiary Spin-Off Opportunities Through Strong and Flexible Financing | Benzinga
SINGAPORE, May 01, 2024 (GLOBE NEWSWIRE) -- Society Pass Inc. (NASDAQ:SOPA) ("SoPa" or the "Company"), a leading e-commerce ecosystem in Southeast Asia ("SEA"), is excited to offer additional details related to its successful financing of future growth initiatives, including the Company's ability to spin off various subsidiaries to monetize intrinsic value and finance future acquisition opportunities.
As announced on April 24, 2024, following the recent securing of an equity line of up to $40 million through Strattners Bank SA—to support potential public offerings of subsidiaries—the Company has begun to operationalize this significant financial resource following the issuance of its first advance notice to Strattners FZCO, the Family Office of Strattners Bank SA.
SoPa CEO, Raynauld Liang, remarked, "It's exciting to begin the next phase of our long-term growth strategy. Strattners represents a great partner on our journey to monetize intrinsic growth in our holdings, which is a core strategic part of our value proposition for our stakeholders."
Management ...