UPDATE – Currenc Group's Founder and Executive Chairman to Convert $54.6 Million in Loans to Equity
Currenc Group (Nasdaq: CURR) announced a significant $54.6 million Shares-for-Debt Transaction with its Founder and Executive Chairman, Alex Kong, and controlling shareholder Regal Planet Limited.
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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 controlling shareholder Regal Planet Limited. The company will issue 35,653,995 ordinary shares at $1.53 per share to settle outstanding related party loans totaling approximately $54.55 million.
The transaction will completely eliminate the debt owed to Kong and Regal Planet from Currenc's balance sheet. The conversion price of $1.53 per share was based on Nasdaq's closing price prior to the agreement. The shares will be issued under Securities Act exemption and are subject to resale restrictions.
Positive
- Complete elimination of $54.55 million in related party debt from balance sheet
- Strong vote of confidence from Executive Chairman through $54.6M debt-to-equity conversion
- Significant strengthening of company's capital structure
- Strategic alignment of Chairman's interests with shareholders through increased equity stake
Negative
- 35.65 million new shares issuance will result in dilution for existing shareholders
- Shares issued are subject to resale restrictions which may impact liquidity
Details
News Market Reaction – CURR
On Aug 11, the first trading day after this news, CURR closed 0.66% above the previous close.
Data tracked by StockTitan Argus for the Aug 11 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 that it has entered into definitive transaction documents to effect a
Under the terms of the definitive transaction documents, the Company will issue an aggregate of 35,653,995 ordinary shares at a price per share equal to
“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 will be 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.
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