Society Pass (SoPa) Announces Closing of US$11.5 Million Underwritten Public Offering, Including Full Exercise of the Overallotment Option

SINGAPORE, Feb. 11, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), a leading Southeast Asian data-driven loyalty platform, today announced the closing of its underwritten public offering of 3,484,845 shares of common stock and accompanying warrants to purchase up to 3,484,845 shares of common stock, which includes 454,545 shares of common stock and warrants to purchase 454,545 shares of common stock issued pursuant to the full exercise of the underwriter’s over-allotment option, for aggregate gross proceeds to the Company of approximately US$11.5 million.

Each share of common stock was sold together with one warrant at a combined purchase price of US$3.30. The warrants are immediately exercisable at a price of US$3.30 per share and will expire five years from the date of issuance. The shares of common stock and accompanying warrants could only be purchased together in the offering, but were issued separately and are immediately separable upon issuance. The warrants will not be listed on any exchange.

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