Arena/Helena report 7.24M DigiAsia shares, including derivatives (9.99%)

Rhea-AI Filing Summary

DigiAsia Corp. received a Schedule 13G/A disclosing that a group of related reporting persons led by Arena Investors, LP beneficially owns 7,238,921 Ordinary Shares, representing 9.99% of the class as of the June 30, 2025 event date. The reported holdings include 50,000 Ordinary Shares and additional Ordinary Shares underlying derivative securities exercisable or convertible within 60 days.

The filing explains the ownership chain: Helena Special Opportunities, LLC directly holds the shares; Arena SPV Manager, LLC manages Helena; Arena Investors, LP is the sole member of the manager; and Arena Investors GP, LLC is the general partner of the adviser. The reporting persons certify the securities were not acquired to change or influence control of the issuer.

Positive

• Clear disclosure of beneficial ownership totaling 7,238,921 shares (9.99%)
• Includes derivative exposure (50,000 shares plus securities exercisable/convertible within 60 days), providing transparency on near-term potential dilution or conversion
• Detailed ownership chain from direct holder Helena to adviser and GP, clarifying control and decision-making relationships
• Certification that holdings are not intended to change control of the issuer

Negative

• None.

Insights

Financial Analyst

TL;DR Arena-related entities disclose a near-10% economic stake—material ownership but below common 10% regulatory threshold.

The filing shows 7,238,921 shares (9.99%) beneficially owned, including derivative exposure exercisable within 60 days, which can affect short-term voting or disposition potential. The ownership basis uses issuer-reported outstanding shares as of February 13, 2025 plus subsequent issuance through April 15, 2025. This level of ownership is large enough to be noticed by investors and may prompt market attention without triggering certain additional disclosure obligations tied to higher ownership levels.

Corporate Governance Expert

TL;DR Ownership is clearly documented with the manager/adviser chain disclosed; the filer affirms no intent to change control.

The Schedule 13G/A identifies the ownership chain from the direct holder (Helena) up to the adviser and GP, clarifying voting and dispositive powers as solely held by the reporting persons. The certification states the shares were not acquired to influence control, aligning with passive investor filing conventions. Signatures from the authorized signatory attest to the accuracy of the statement.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

DigiAsia Corp.

(Name of Issuer)

Ordinary Shares, $0.0001 par value per share

(Title of Class of Securities)

G27617102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G27617102

1

Names of Reporting Persons

Arena Investors, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,238,921.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,238,921.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,238,921.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. G27617102

1

Names of Reporting Persons

Arena Investors GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,238,921.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,238,921.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,238,921.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: limited liability company

SCHEDULE 13G

CUSIP No. G27617102

1

Names of Reporting Persons

Arena SPV Manager, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,238,921.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,238,921.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,238,921.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: limited liability company

SCHEDULE 13G

CUSIP No. G27617102

1

Names of Reporting Persons

Helena Special Opportunities, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,238,921.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,238,921.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,238,921.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: limited liability company

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DigiAsia Corp.
(b)	Address of issuer's principal executive offices: One Raffles Place #28-02, Singapore, 048616
Item 2.
(a)	Name of person filing: This Schedule 13G is filed by the following (the "Reporting Persons"): (1) Arena Investors, LP (the "Adviser"); (2) Arena Investors GP, LLC (the "Adviser GP"); (3) Arena SPV Manager, LLC (the "Manager"); and (4) Helena Special Opportunities, LLC ("Helena"). Helena is a private investment vehicle. Helena directly beneficially owns the Ordinary Shares reported in this statement. The Manager is the manager of Helena. The Adviser is the sole member of the Manager. The Adviser GP is the general partner of the Adviser. The Adviser, the Adviser GP and the Manager may be deemed to beneficially own the Ordinary Shares directly beneficially owned by Helena. Each Reporting Person disclaims beneficial ownership with respect to any Ordinary Shares other than the Ordinary Shares directly beneficially owned by such Reporting Person.
(b)	Address or principal business office or, if none, residence: The principal business office of the Reporting Persons is 2500 Westchester Avenue, Suite 401, Purchase, New York 10577.
(c)	Citizenship: For citizenship or place of organization see Item 4 of the cover page of each Reporting Person.
(d)	Title of class of securities: Ordinary Shares, $0.0001 par value per share
(e)	CUSIP No.: G27617102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 on the cover page for each Reporting Person, and Item 2, which information is given as of the close of business on June 30, 2025, the Date of Event which requires the filing of this Schedule 13G. The shares reported include 50,000 Ordinary Shares and otherwise represent Ordinary Shares underlying derivative securities that are exercisable/convertible within 60 days of the Date of Event.
(b)	Percent of class: See Item 11 on the cover page for each Reporting Person. The percentages of beneficial ownership contained herein are based on: (1) 60,691,837 Ordinary Shares outstanding as of February 13, 2025, as reported by the Issuer in Exhibit 10.1 to its Form 6-K filed with the SEC on March 30, 2025; plus (y) 4,609,362 Ordinary Shares issued by the Issuer on or prior to April 15, 2025 as reported by the Issuer in its Form 6-K filed with the SEC on May 9, 2025; plus (z) the Ordinary Shares underlying the derivative securities referred to in Item 1(a).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page for each Reporting Person.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page for each Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page for each Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page for each Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Arena Investors, LP

Signature:	/s/ Tsering Lama
Name/Title:	Tsering Lama / Authorized Signatory
Date:	08/14/2025

Arena Investors GP, LLC

Signature:	/s/ Tsering Lama
Name/Title:	Tsering Lama / Authorized Signatory
Date:	08/14/2025

Arena SPV Manager, LLC

Signature:	/s/ Tsering Lama
Name/Title:	Tsering Lama / Authorized Signatory
Date:	08/14/2025

Helena Special Opportunities, LLC

Signature:	/s/ Tsering Lama
Name/Title:	Tsering Lama / Authorized Signatory
Date:	08/14/2025

FAQ

How many DigiAsia (FAAS) shares do Arena-related entities report owning?

The reporting persons state they beneficially own 7,238,921 Ordinary Shares, representing 9.99% of the class.

Does the filing include derivative securities for DigiAsia (FAAS)?

Yes. The reported amount includes 50,000 Ordinary Shares and additional Ordinary Shares underlying derivative securities exercisable or convertible within 60 days.

Who is the direct holder of the DigiAsia shares in this filing?

The direct holder is Helena Special Opportunities, LLC; Arena SPV Manager, LLC is the manager, Arena Investors, LP is the sole member of the manager, and Arena Investors GP, LLC is the adviser GP.

What percent of DigiAsia outstanding shares does the filing use to calculate ownership?

Percentages are based on 60,691,837 Ordinary Shares outstanding as of February 13, 2025, plus 4,609,362 Ordinary Shares issued on or prior to April 15, 2025, and the shares underlying the referenced derivatives.

Did the reporting persons state any intent to influence control of DigiAsia?

No. The certification states the securities were not acquired and are not held to change or influence control of the issuer.