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[6-K] DigiAsia Corp. Current Report (Foreign Issuer)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
6-K
Rhea-AI Filing Summary

Hagerty, Inc. (HGTY) filed a Form 144 indicating that Robert I. Kauffman, through Aldel LLC, plans to sell 31,869 common shares (≈ $324.7 k) on or around 22 Jul 2025 via Merrill Lynch on the NYSE. The shares represent roughly 0.04 % of the company’s 90.7 m shares outstanding.

The seller originally acquired 3.5 m shares on 2 Dec 2021 as part of the PIPE financing that accompanied Hagerty’s SPAC business combination. Over the past three months, the same account has already disposed of about 704,944 shares for an aggregate ≈ $7.0 m in gross proceeds, demonstrating an ongoing divestiture trend.

No new operational or financial results are included; the filing is solely a notice of intended insider sales. Continued sizable insider selling—over 0.8 % of shares outstanding in the last quarter—may raise sentiment and liquidity questions for investors.

Hagerty, Inc. (HGTY) ha presentato un Modulo 144 segnalando che Robert I. Kauffman, tramite Aldel LLC, intende vendere circa 31.869 azioni ordinarie (≈ 324,7 mila $) intorno al 22 luglio 2025 tramite Merrill Lynch alla NYSE. Le azioni rappresentano circa lo 0,04% delle 90,7 milioni di azioni in circolazione della società.

Il venditore aveva originariamente acquisito 3,5 milioni di azioni il 2 dicembre 2021 come parte del finanziamento PIPE che ha accompagnato la combinazione aziendale SPAC di Hagerty. Negli ultimi tre mesi, lo stesso conto ha già ceduto circa 704.944 azioni per un ricavo lordo complessivo di circa 7,0 milioni di $, evidenziando una tendenza continua alla dismissione.

Non sono inclusi nuovi risultati operativi o finanziari; la comunicazione è esclusivamente un avviso di vendite interne previste. La continua vendita significativa da parte degli insider — oltre lo 0,8% delle azioni in circolazione nell’ultimo trimestre — potrebbe sollevare dubbi sul sentiment e sulla liquidità per gli investitori.

Hagerty, Inc. (HGTY) presentó un Formulario 144 indicando que Robert I. Kauffman, a través de Aldel LLC, planea vender 31,869 acciones ordinarias (≈ 324,7 mil $) alrededor del 22 de julio de 2025 mediante Merrill Lynch en la NYSE. Las acciones representan aproximadamente el 0,04% de las 90,7 millones de acciones en circulación de la empresa.

El vendedor adquirió originalmente 3,5 millones de acciones el 2 de diciembre de 2021 como parte del financiamiento PIPE que acompañó la combinación de negocios SPAC de Hagerty. En los últimos tres meses, la misma cuenta ya ha vendido alrededor de 704,944 acciones por un total bruto aproximado de 7,0 millones de $, demostrando una tendencia continua de desinversión.

No se incluyen nuevos resultados operativos o financieros; la presentación es únicamente un aviso de ventas internas previstas. La continua venta significativa por parte de los insiders — más del 0,8% de las acciones en circulación en el último trimestre — podría generar dudas sobre el sentimiento y la liquidez para los inversores.

Hagerty, Inc. (HGTY)는 Form 144를 제출하여 Robert I. Kauffman이 Aldel LLC를 통해 31,869주 보통주(약 324,700달러)를 2025년 7월 22일경 Merrill Lynch를 통해 NYSE에서 매도할 계획임을 알렸습니다. 이 주식은 회사의 9,070만 주 발행 주식의 약 0.04%에 해당합니다.

판매자는 원래 2021년 12월 2일 Hagerty의 SPAC 사업 결합과 함께 진행된 PIPE 금융의 일환으로 350만 주를 취득했습니다. 지난 3개월 동안 동일 계정은 이미 약 704,944주를 매도하여 총 약 700만 달러의 총수익을 기록하며 지속적인 매도 추세를 보여주고 있습니다.

새로운 운영 또는 재무 결과는 포함되어 있지 않으며, 제출 서류는 내부자 매도 예정 통지에 한정됩니다. 지난 분기 동안 발행 주식의 0.8% 이상에 달하는 지속적인 내부자 매도는 투자자들에게 심리 및 유동성에 대한 우려를 불러일으킬 수 있습니다.

Hagerty, Inc. (HGTY) a déposé un Formulaire 144 indiquant que Robert I. Kauffman, via Aldel LLC, prévoit de vendre environ 31 869 actions ordinaires (≈ 324,7 k$) aux alentours du 22 juillet 2025 par l'intermédiaire de Merrill Lynch à la NYSE. Ces actions représentent environ 0,04 % des 90,7 millions d'actions en circulation de la société.

Le vendeur avait initialement acquis 3,5 millions d’actions le 2 décembre 2021 dans le cadre du financement PIPE qui accompagnait la fusion SPAC de Hagerty. Au cours des trois derniers mois, ce même compte a déjà cédé environ 704 944 actions pour un produit brut total d’environ 7,0 millions de $, témoignant d’une tendance continue à la cession.

Aucun nouveau résultat opérationnel ou financier n’est inclus ; le dépôt est uniquement un avis de ventes internes prévues. La poursuite de ventes importantes par les initiés — plus de 0,8 % des actions en circulation au cours du dernier trimestre — pourrait susciter des interrogations sur le sentiment et la liquidité chez les investisseurs.

Hagerty, Inc. (HGTY) hat ein Formular 144 eingereicht, das anzeigt, dass Robert I. Kauffman über Aldel LLC plant, am oder um den 22. Juli 2025 etwa 31.869 Stammaktien (≈ 324,7 Tsd. $) über Merrill Lynch an der NYSE zu verkaufen. Die Aktien entsprechen etwa 0,04 % der 90,7 Mio. ausstehenden Aktien des Unternehmens.

Der Verkäufer erwarb ursprünglich am 2. Dezember 2021 im Rahmen der PIPE-Finanzierung, die die SPAC-Geschäftskombination von Hagerty begleitete, 3,5 Mio. Aktien. In den letzten drei Monaten hat dasselbe Konto bereits etwa 704.944 Aktien mit einem Bruttoerlös von ca. 7,0 Mio. $ veräußert, was einen anhaltenden Veräußerungstrend zeigt.

Es sind keine neuen operativen oder finanziellen Ergebnisse enthalten; die Meldung dient ausschließlich als Hinweis auf beabsichtigte Insiderverkäufe. Fortgesetzte erhebliche Insiderverkäufe — über 0,8 % der ausstehenden Aktien im letzten Quartal — könnten bei Investoren Fragen hinsichtlich der Stimmung und Liquidität aufwerfen.

Positive
  • None.
Negative
  • Consistent insider selling: ~705 k shares (≈0.8 % of O/S) already sold in last 3 months, with another 31.9 k planned, can dampen investor confidence.
  • No offsetting business update: Filing provides no operational metrics or positive catalysts to counter the negative sentiment from insider divestiture.

Insights

TL;DR: Ongoing insider divestiture—~0.8 % of shares sold in 3 months, more planned—skews negative for sentiment.

Insider Robert I. Kauffman has systematically liquidated ~705 k Hagerty shares since April, raising ≈ $7 m. The new Form 144 adds another 31.9 k shares. While the stake is small versus the total float, cumulative sales can pressure share supply and signal limited near-term confidence in upside. No offsetting positive disclosures accompany the filing. I view the news as modestly negative for near-term price action and investor perception.

TL;DR: Continuous insider selling reduces conviction; impact limited by small relative size.

From a portfolio-allocation view, the planned sale equates to just 0.04 % of shares outstanding, so mechanical market impact should be minimal. However, the broader pattern—~705 k shares already sold—may influence sentiment and could cap rallies. Absent contradictory fundamental catalysts, I categorize the filing as a sentiment head-wind rather than a thesis-changing event.

Hagerty, Inc. (HGTY) ha presentato un Modulo 144 segnalando che Robert I. Kauffman, tramite Aldel LLC, intende vendere circa 31.869 azioni ordinarie (≈ 324,7 mila $) intorno al 22 luglio 2025 tramite Merrill Lynch alla NYSE. Le azioni rappresentano circa lo 0,04% delle 90,7 milioni di azioni in circolazione della società.

Il venditore aveva originariamente acquisito 3,5 milioni di azioni il 2 dicembre 2021 come parte del finanziamento PIPE che ha accompagnato la combinazione aziendale SPAC di Hagerty. Negli ultimi tre mesi, lo stesso conto ha già ceduto circa 704.944 azioni per un ricavo lordo complessivo di circa 7,0 milioni di $, evidenziando una tendenza continua alla dismissione.

Non sono inclusi nuovi risultati operativi o finanziari; la comunicazione è esclusivamente un avviso di vendite interne previste. La continua vendita significativa da parte degli insider — oltre lo 0,8% delle azioni in circolazione nell’ultimo trimestre — potrebbe sollevare dubbi sul sentiment e sulla liquidità per gli investitori.

Hagerty, Inc. (HGTY) presentó un Formulario 144 indicando que Robert I. Kauffman, a través de Aldel LLC, planea vender 31,869 acciones ordinarias (≈ 324,7 mil $) alrededor del 22 de julio de 2025 mediante Merrill Lynch en la NYSE. Las acciones representan aproximadamente el 0,04% de las 90,7 millones de acciones en circulación de la empresa.

El vendedor adquirió originalmente 3,5 millones de acciones el 2 de diciembre de 2021 como parte del financiamiento PIPE que acompañó la combinación de negocios SPAC de Hagerty. En los últimos tres meses, la misma cuenta ya ha vendido alrededor de 704,944 acciones por un total bruto aproximado de 7,0 millones de $, demostrando una tendencia continua de desinversión.

No se incluyen nuevos resultados operativos o financieros; la presentación es únicamente un aviso de ventas internas previstas. La continua venta significativa por parte de los insiders — más del 0,8% de las acciones en circulación en el último trimestre — podría generar dudas sobre el sentimiento y la liquidez para los inversores.

Hagerty, Inc. (HGTY)는 Form 144를 제출하여 Robert I. Kauffman이 Aldel LLC를 통해 31,869주 보통주(약 324,700달러)를 2025년 7월 22일경 Merrill Lynch를 통해 NYSE에서 매도할 계획임을 알렸습니다. 이 주식은 회사의 9,070만 주 발행 주식의 약 0.04%에 해당합니다.

판매자는 원래 2021년 12월 2일 Hagerty의 SPAC 사업 결합과 함께 진행된 PIPE 금융의 일환으로 350만 주를 취득했습니다. 지난 3개월 동안 동일 계정은 이미 약 704,944주를 매도하여 총 약 700만 달러의 총수익을 기록하며 지속적인 매도 추세를 보여주고 있습니다.

새로운 운영 또는 재무 결과는 포함되어 있지 않으며, 제출 서류는 내부자 매도 예정 통지에 한정됩니다. 지난 분기 동안 발행 주식의 0.8% 이상에 달하는 지속적인 내부자 매도는 투자자들에게 심리 및 유동성에 대한 우려를 불러일으킬 수 있습니다.

Hagerty, Inc. (HGTY) a déposé un Formulaire 144 indiquant que Robert I. Kauffman, via Aldel LLC, prévoit de vendre environ 31 869 actions ordinaires (≈ 324,7 k$) aux alentours du 22 juillet 2025 par l'intermédiaire de Merrill Lynch à la NYSE. Ces actions représentent environ 0,04 % des 90,7 millions d'actions en circulation de la société.

Le vendeur avait initialement acquis 3,5 millions d’actions le 2 décembre 2021 dans le cadre du financement PIPE qui accompagnait la fusion SPAC de Hagerty. Au cours des trois derniers mois, ce même compte a déjà cédé environ 704 944 actions pour un produit brut total d’environ 7,0 millions de $, témoignant d’une tendance continue à la cession.

Aucun nouveau résultat opérationnel ou financier n’est inclus ; le dépôt est uniquement un avis de ventes internes prévues. La poursuite de ventes importantes par les initiés — plus de 0,8 % des actions en circulation au cours du dernier trimestre — pourrait susciter des interrogations sur le sentiment et la liquidité chez les investisseurs.

Hagerty, Inc. (HGTY) hat ein Formular 144 eingereicht, das anzeigt, dass Robert I. Kauffman über Aldel LLC plant, am oder um den 22. Juli 2025 etwa 31.869 Stammaktien (≈ 324,7 Tsd. $) über Merrill Lynch an der NYSE zu verkaufen. Die Aktien entsprechen etwa 0,04 % der 90,7 Mio. ausstehenden Aktien des Unternehmens.

Der Verkäufer erwarb ursprünglich am 2. Dezember 2021 im Rahmen der PIPE-Finanzierung, die die SPAC-Geschäftskombination von Hagerty begleitete, 3,5 Mio. Aktien. In den letzten drei Monaten hat dasselbe Konto bereits etwa 704.944 Aktien mit einem Bruttoerlös von ca. 7,0 Mio. $ veräußert, was einen anhaltenden Veräußerungstrend zeigt.

Es sind keine neuen operativen oder finanziellen Ergebnisse enthalten; die Meldung dient ausschließlich als Hinweis auf beabsichtigte Insiderverkäufe. Fortgesetzte erhebliche Insiderverkäufe — über 0,8 % der ausstehenden Aktien im letzten Quartal — könnten bei Investoren Fragen hinsichtlich der Stimmung und Liquidität aufwerfen.

 



 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of July 2025

Commission File Number 001-40613

 

DigiAsia Corp.


(Translation of registrant’s name into English)

 

One Raffles Place #28-02

Singapore 048616

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒         Form 40-F ☐

 



 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

Entry into Securities Purchase Agreement

 

On July 13, 2025, DigiAsia Corp. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with CXI Valley II LLC, a Delaware corporation (“CXI”), pursuant to which the Company will, subject to the terms and conditions stated therein, issue to CXI a convertible promissory note, in the aggregate principal amount of $2,000,000, convertible into ordinary shares of the Company. The Convertible Note has an original issuance discount equal to 6% and a conversion price equal to 80% of the 15-trading day volume weighted average price immediately preceding the date of the conversion notice, subject to additional terms and conditions stated therein. The Convertible Note has a maturity date being the earlier of: (i) 12 months from the date of the initial disbursement, or (ii) the date on which the Company raises an aggregate of USD $10,000,000 or more in new financing. The Convertible Note has an interest rate of 1% per month, payable in kind with interest accruing monthly and payable in full at maturity.

 

The foregoing description of the Securities Purchase Agreement is a summary only, does not purport to be complete, and is qualified in its entirety by reference to the full text of the Securities Purchase Agreement, which is attached hereto as Exhibit 10.1, and incorporate herein by reference.

 
Exhibits No.   Description

10.1

 

Securities Purchase Agreement, dated July 13, 2025, by and among DigiAsia Corp. and CXI Valley II LLC.

 

1

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

DigiAsia Corp.

(Registrant)

 

 

 

Date: July 22, 2025

By:

/s/ Prashant Gokarn

 

Name:

Prashant Gokarn

 

Title:

Chief Executive Officer

 

2

FAQ

Why did Hagerty (HGTY) file a Form 144?

To notify the SEC of Robert I. Kauffman’s intent to sell 31,869 common shares around 22 Jul 2025.

How many Hagerty shares has the insider recently sold?

Over the past three months, the filer disposed of approximately 704,944 shares for roughly $7.0 million in proceeds.

What percentage of Hagerty’s outstanding shares does the new sale represent?

The planned 31,869-share sale equals about 0.04 % of the 90.7 million shares outstanding.

When were the shares originally acquired?

The insider acquired 3.5 million shares on 2 Dec 2021 through PIPE financing tied to Hagerty’s SPAC merger.

Does the filing include any financial performance data?

No. Form 144 is a trading notice and contains no revenue, earnings, or guidance information.
DigiAsia Corp

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