DigiAsia (NASDAQ: FAAS), a leading Fintech as a Service (“FaaS”) ecosystem provider, has entered into a Securities Purchase Agreement (“SPA”) with a group of investors. According to the agreement, DigiAsia will sell certain Class A convertible promissory notes and Class B convertible promissory notes as well as warrants. The notes, which have a one-year maturity, total up to $8,863,528.24. Each warrant will be a five-year warrant for a number of ordinary shares equal to the principal amount of the Class A note issued to the applicable investor, multiplied by 60% and divided by 120% of the closing price of the ordinary shares on the trading day immediately preceding the issue of the applicable warrant. EF Hutton served as placement agent for the private placement.
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About DigiAsia Corp.
DigiAsia aims to enable financial transactions across all customer segments by supporting every aspect of partners’ financial transformation to the digital era with low-cost, mass-market diverse financial products. DigiAsia’s strategy is to acquire and operationally consolidate digital, traditional distribution and logistics ecosystems through low-cost payment rails using an embedded finance approach. DigiAsia offers its financial services, including closed and open loop wallets, QR payments, cash-based and digital remittances, merchant-operated ATM/branch banking functionality and card issuance through a set of open-access APIs; these services can be consumed in the mobile app and web interface of partner customers. Rather than invest precious financial capital, time and human resources, DigiAsia partner customers have their branded or white-label fintech services live and operational within weeks. For more information about the company, please visit www.DigiAsia.asia.
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