SOPA (SOPA)

Key Insights

• Society Pass Incorporated (SOPA) raised approximately $2.5 million in a best efforts public offering, which it intends to use for working capital and general corporate purposes.
• The company entered into a securities purchase agreement with investors that included customary representations, warranties, and obligations, as well as restrictions on future share issuances.
• SOPA paid the placement agent, Rodman & Renshaw LLC, a 7% cash fee on the gross proceeds raised and reimbursed certain offering-related expenses.