Society Pass Set to Unlock and Monetize Current and Future Subsidiary Spin-Off Opportunities Through Strong and Flexible Financing
01 Mai 2024 - 3:00PM
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 notes that potential spin-outs include Thoughtful
Media Group, a Thailand-based, a social commerce-focused premium
digital video multi-platform network and NusaTrip, a leading
Indonesia-based Online Travel Agency.
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 of its common stock to Strattners.
Liang continued, “This is about collaboration, long-term growth,
value creation, and maximizing shareholder value. Access to capital
is a primary piece of that puzzle. Our arrangement with Strattners
provides a versatile and flexible source for that engine,
supporting future acquisitions and granting the Company the
latitude to capitalize on opportunities that fit our model and play
to our strengths.”
Dr. Timo Strattner, CEO of Strattners, noted, “SoPa has an
ambitious model, and we have confidence they will forge ahead an
unlock value driven by that model through their prior strategic
activities as well as the many new opportunities they are likely to
discover and fuel.”
About Society Pass
Established in 2018, Society Pass Inc. operates as a data-driven
e-commerce ecosystem across Vietnam, Indonesia, Philippines,
Singapore, and Thailand. With strategic offices across SEA, the
company operates in interconnected verticals—loyalty, digital
media, travel, telecommunications and lifestyle—serving consumers
and merchants/brands in Southeast Asia. Society Pass Incorporated
(Nasdaq: SOPA) is committed to driving innovation and reshaping the
digital commerce landscape in the region.
For more information, please visit:
Website: www.thesocietypass.com
LinkedIn: www.linkedin.com/company/societypass
Facebook: www.facebook.com/thesocietypass
Twitter: twitter.com/society_pass
Instagram: www.instagram.com/societypass
Cautionary Note Concerning Forward-Looking
Statements:
This press release may contain forward-looking statements within
the meaning of applicable securities laws. Such statements are
based on management's current expectations and beliefs and are
subject to various risks and uncertainties that could cause actual
results to differ materially. Investors are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update any forward-looking statements contained herein, except as
required by applicable laws.
Media Contact:
Rokas Sidlauskas
Chief Marketing Officer
Email: rokas@thesocietypass.com
Society Pass (NASDAQ:SOPA)
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