Society Pass, which acquires and operates e-commerce platforms in South Asia, filed an amendment on Thursday with the SEC disclosing plans to raise up to $18 million. It originally filed on July 20, 2021, with a proposed deal size of less than $5 million, which made it ineligible for tracking.
Society Pass acquires and operates e-commerce platforms through its subsidiaries, which form the Society Pass Group. The Group currently markets to both consumers and merchants in Vietnam while maintaining an administrative headquarters in Singapore. Post-IPO, the company intends to expand its e-commerce ecosystem throughout the rest of SEA and South Asia with a particular focus on the Philippines, Indonesia, India, and Bangladesh.
The Carson City, NV-based company was founded in 2018 and plans to list on the Nasdaq under the symbol SOPA. Society Pass filed confidentially on February 11, 2021. Maxim Group LLC is the sole bookrunner on the deal. No pricing terms were disclosed.
