Currenc Group Inc. (CURR): M&A transaction — 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.

item 1.01 item 2.01 item 1.02 item 9.01 item 5.02 item 3.02 item 2.03 item 3.03 item 5.01 item 5.03 item 5.06

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

Currenc Group Inc. underwent a change of control involving Seamless Group Inc. for 40,000,000 ordinary shares (closed 2024-08-30).

Action: change of control
Counterparty: Seamless Group Inc.
Consideration: 40,000,000 ordinary shares
Closing: 2024-08-30

Exact text from the filing

and INFINT changed its name to Currenc Group Inc. (“ New Seamless ”). As consideration for the Business Combination, New Seamless issued to Seamless shareholders an aggregate of 40,000,000 ordinary shares, par value $0.0001 (the “ Ordinary Shares ”) of New Seamless (the “ Exchange Consideration ”). In addition, New Seamless issued 400,000 commitment shares to the

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Currenc Group Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-035327

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