Society Pass Inc Announces Equity Line Of Up To $40M To Invest Into Operating Subsidiaries Projected To Go Public In 2024
Portfolio Pulse from Benzinga Newsdesk
Society Pass Inc. (NASDAQ:SOPA) has entered into a structured financing agreement for an equity line of credit with Strattners FZCO. The agreement allows Society Pass to sell up to $40 million of its common stock to Strattners over the next 36 months, subject to certain limitations. The funds raised will be used to invest in operating subsidiaries and potential acquisitions, and to bolster working capital.
October 12, 2023 | 12:24 pm
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Society Pass Inc. has secured an equity line of credit with Strattners FZCO, providing it with the potential to raise up to $40 million over the next 36 months. This could provide a significant boost to the company's financial flexibility and investment capabilities.
The equity line of credit provides Society Pass with the potential to raise significant capital over the next 36 months. This could enhance the company's financial flexibility, allowing it to invest in its operating subsidiaries and potential acquisitions, and to bolster its working capital. This could potentially lead to growth and increased shareholder value, which could positively impact the company's stock price.
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