M&A
confidence high
sentiment neutral
materiality 0.85
INFINT closes $400M de-SPAC merger with Seamless; renamed Currenc Group (CURR) on Nasdaq
Currenc Group Inc.
- Former Seamless shareholders own ~85.97% of post-merger Co; Sponsor ~9.63%; public ~0.20%.
- ~$54.8M redeemed from trust (4.65M shares at ~$11.79); trust balance ~$1.1M plus $1.75M PIPE used for expenses.
- PIPE: $1.94M convertible note issued; 400K commitment shares & warrants to purchase 136,110 shares at $11.50.
- Promissory notes: $5.7M to EF Hutton, $3.2M to Greenberg Traurig, $0.6M to INFINT Capital (installment terms).
- Lock-up agreements for 6 months on Seamless shareholders; 2.1M sponsor shares waived for Nasdaq float.