Society Pass (SoPa) Announces Pricingof US$26 Million Initial Public Offering
November 08, 2021 19:00 ET | Source: SocietyPass Incorporated
Common Shares to Trade on NASDAQ underTicker “SOPA”
Singapore, Nov. 08, 2021 (GLOBE NEWSWIRE)-- via NewMediaWire -- Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), a leading SoutheastAsian data-driven loyalty platform, today announced the pricing of its initial public offering of 2,888,889 shares of common stock (the“Shares”) at a price of US$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 underwritersa 45-day option to purchase up to 433,333 additional shares at the initial public offering price to cover over-allotments, if any. Theoffering is expected to close on November 12, 2021, subject to customary closing conditions.
Maxim Group LLC is acting as sole book-runningmanager for the offering.
A registration statement relating to theShares was declared effective by the SEC on November 8, 2021. The offering is being made only by means of a prospectus, copies of whichmay be obtained by contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022. Copies of the registration statementcan be accessed through the SEC's website at www.sec.gov.
This press release shall not constitutean offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdictionin which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any suchstate or jurisdiction.
About Society Pass
SoPa’s customer loyalty and analyticsplatform has onboarded hundreds of thousands of registered consumers. SoPa provides merchants with SoPa.asia – an online commerceplatform for users, alongside with #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTABPOS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user’s profileanalytics, and convenient financial support packages for small and medium-sized enterprises. All tools offered above will allow businessesto attract and retain customers through personalized interaction based on analytics with a high profit margin. SoPa also operates www.leflair.com,Vietnam’s leading lifestyle e-commerce platform.
For more information, please check out:http://thesocietypass.com/
Forward Looking Statements
The information contained herein may contain“forward-looking statements.” Forward-looking statements reflect the current view about future events. When used in this pressrelease, the words “anticipate,” “believe,” “estimate,” “expect,” “future,”“intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management,identify forward-looking statements. Such statements include, but are not limited to, statements contained in this press release relatingto the view of management of the Company concerning its business strategy, future operating results and liquidity and capital resourcesoutlook. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, theeconomy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties,risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from thosecontemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance.We caution you therefore against relying on any of these forward-looking statements. Factors or events that could cause the Company’sactual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannotguarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securitieslaws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements toactual results.
Contacts:
SoPa:
Raynauld Liang, CFO
ray@thesocietypass.com
Investor Relations:
Jeff Ramson, CEO
PCG Advisory
jramson@pcgadvisory.com
(646) 863-6341
