ASIAFIN HOLDINGS CORP. (ASFH): M&A transaction — AsiaFIN acquires StarFIN Holdings for $9.1M in stock; expands into payment, RPA, RegTech

ASIAFIN HOLDINGS CORP.

Acquired 100% of StarFIN Holdings (SFHL) for 8,232,038 shares valued at $1.10/share, aggregate $9,055,242.
SFHL provides payment processing, RPA, and RegTech solutions; over 60 bank customers and 100+ RPA customers in Asia.
Closed Feb 23, 2023; CEO Wong Kai Cheong and director Hoo Swee Ping, both SFHL directors, received shares.
SFHL audited financials (Dec 31, 2022): total assets $2.85M, total liabilities $1.41M, stockholders' equity $1.44M.
Acquisition broadens AsiaFIN's service offerings into payment processing, RPA, and RegTech across Asia.

item 1.01 item 2.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ASIAFIN HOLDINGS CORP. completed an acquisition involving StarFIN Holdings Limited for $9,055,242 (closed 2023-02-23).

Action: acquisition
Counterparty: StarFIN Holdings Limited
Consideration: $9,055,242
Closing: 2023-02-23

Exact text from the filing

stock of SFHL. As consideration, we agreed to issue to the shareholders of SFHL 8,232,038 shares of our common stock, at a value of $1.10 per share, for an aggregate value of $9,055,242. We consummated the acquisition of SFHL on February 23, 2023. It is our understanding that the shareholders of SFHL are not U.S. Persons within the meaning of Regulations S.

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Source: SEC EDGAR

accession 0001493152-23-006662

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