Society Pass, which acquires and operates e-commerce platforms in South Asia, raised $26 million by offering 2.9 million shares at $9, the midpoint of the $8 to $10 range.
Headquartered in Carson City, NV, with its operating subsidiary in Singapore, 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 company plans to list on the Nasdaq under the symbol SOPA. Maxim Group LLC acted as sole bookrunner on the deal.
