Currenc Group's Founder and Executive Chairman Converts $54.6 Million in Loans to Equity
Rhea-AI Summary
Currenc Group (Nasdaq: CURR) announced a significant $54.6 million Shares-for-Debt Transaction with its Founder and Executive Chairman, Alex Kong, and Regal Planet Limited. The transaction involves issuing 35,653,995 ordinary shares to settle approximately $54.5 million in outstanding related party loans as of July 22, 2025.
The strategic move completely eliminates these debts from Currenc's balance sheet while aligning the Chairman's interests with shareholders. The shares were issued under Securities Act exemption and are subject to resale restrictions. This transaction demonstrates the Executive Chairman's confidence in the fintech company's future growth prospects.
Positive
- Complete elimination of $54.5 million in debt from balance sheet, strengthening capital structure
- Strong vote of confidence from Executive Chairman through $54.6M personal reinvestment
- Enhanced alignment of Chairman's interests with shareholders through equity conversion
Negative
- Significant share dilution through issuance of 35.6 million new ordinary shares
- Restricted resale conditions on newly issued shares may impact liquidity
News Market Reaction
On the day this news was published, CURR declined 6.75%, reflecting a notable negative market reaction. Argus tracked a trough of -3.3% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $8M from the company's valuation, bringing the market cap to $115M at that time.
Data tracked by StockTitan Argus on the day of publication.
Strengthening Capital Structure and Signaling Confidence in Growth
SINGAPORE, Aug. 08, 2025 (GLOBE NEWSWIRE) -- Currenc Group Inc. (Nasdaq: CURR) (“Currenc” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced the completion of a
Under the terms of a Shares-for-Debt Agreement, the Company issued an aggregate of 35,653,995 ordinary shares to Mr. Kong and Regal Planet to settle the full outstanding related party loans totaling approximately
“This transaction achieves two critical goals: it significantly strengthens our capital structure, and just as importantly, underscores my profound confidence in Currenc’s long-term growth prospects,” said Mr. Kong. “By personally reinvesting over
The issuance of shares was made in reliance on an exemption from registration under the Securities Act of 1933, as amended, and the shares issued are subject to applicable restrictions on resale.
About Currenc Group Inc.
Currenc Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor & Media Contact
Currenc Group Investor Relations
Email: investors@currencgroup.com
SOURCE: Currenc Group Inc.
FAQ
What is the value of Currenc Group's (CURR) debt-to-equity conversion announced in August 2025?
Who initiated the debt conversion in Currenc Group (CURR)?
How does the debt conversion affect Currenc Group's (CURR) balance sheet?
What restrictions apply to the new shares issued by Currenc Group (CURR)?
How many shares did Currenc Group (CURR) issue in the debt conversion?
