Seamless Group, Inc. Completes Business Combination with INFINT Acquisition Corporation to Become a Publicly Traded Company
30 Agosto 2024 - 5:48PM
Seamless Group Inc., a leading global fintech platform
(“Seamless”), and INFINT Acquisition Corporation (“INFINT”) (NYSE:
IFIN), a special purpose acquisition company, today announced the
completion of the previously announced business combination (the
“Business Combination”). Beginning Tuesday, September 3, 2024, the
combined company will operate as CURRENC Group Inc. (“CURRENC”),
and the ordinary shares will trade on The Nasdaq Stock Market LLC
under the ticker symbol “CURR.”
Ronnie Ka Wah Hui, Chief Executive Officer of
Seamless, Alexander King Ong Kong, the founder of Seamless and
Executive Chairman of the Board, and Hagay Ravid, the Chief
Financial Officer of Seamless, will continue to lead CURRENC in
their respective positions.
Ronnie Ka Wah Hui, Chief Executive Officer of
CURRENC, commented, “I am proud and honored by Seamless’
achievement of this significant milestone as we embark on our
journey as a publicly traded company. The listing on the Nasdaq
Stock Market LLC enables CURRENC to aggressively build its image,
develop new markets and expand our network to seek to become one of
the leading remittance hubs globally. We are thankful for the
INFINT team’s continued collaboration, support, and conviction
throughout the transaction process.”
Alexander Edgarov, Chief Executive Officer of
INFINT, added, “The INFINT team is excited to have successfully
completed this business combination with Seamless. We are eager to
see Alex, Ronnie and the team at CURRENC Group successfully execute
their long-term operational and strategic objectives, building
value for shareholders and stakeholders alike as they continue to
develop a global fintech banking platform.”
About Seamless Group Inc.
Seamless Group Inc. pioneers a global fintech
banking platform for e-wallets, financial institutions and
merchants worldwide, delivering frictionless real-time, cost
efficient fund transfers. Seamless’ state-of-the-art digital
ecosystem empowers millions of smart consumers and businesses to
win in over 150 countries.
About INFINT Acquisition
Corporation
INFINT Acquisition Corporation is a Special
Purpose Acquisition Corporation (SPAC) company on a mission to
bring the most promising financial technology company from North
America, Asia, Latin America, Europe and Israel to the U.S. public
market. As a result of the pandemic, the world is changing rapidly,
and in unique, unexpected ways. Thanks to growth and investment in
the global digital infrastructure, legal, healthcare, automotive,
financial, and other fields are evolving at a faster rate than ever
before. INFINT believes the greatest opportunities in the near
future lie in the global fintech space and are looking forward to
merging with an exceptional international fintech
company.
Advisors
Greenberg Traurig, LLP is serving as U.S. legal
counsel and Mourant is serving as Cayman Islands legal counsel to
INFINT in the transaction. Nelson Mullins Riley & Scarborough
LLP is serving as U.S. legal counsel and Maples Group is serving as
Cayman Islands legal counsel to Seamless in the transaction.
Forward-Looking Statements
The information in this press release contains
certain “forward-looking statements” within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995 with respect to the Business Combination and
CURRENC following the Business Combination. These forward-looking
statements generally are identified by the words “believe,”
“project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “aim,” “future,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result” and similar expressions, but the absence of these words
does not mean that a statement is not forward-looking.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Actual results may differ from their
expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) the risk that investors
of Seamless may not receive the same benefits as an investor in an
underwritten public offering, (ii) the risk that CURRENC’s
securities may experience a material price decline after the
Business Combination, (iii) the risk of product liability or
regulatory lawsuits or proceedings relating to Seamless’ or
CURRENC’s business, (iv) the ability of CURRENC to comply with the
continued listing standards of Nasdaq, (v) the ability to attract
new partners, merchants and users and retain existing partners,
merchants and users in order to continue to expand, (vi) the
ability of CURRENC to fund its capital requirements through
additional debt and equity financing under commercially reasonable
terms and the risk of shareholding dilution as a result of
additional capital raising, if applicable, (vii) the risk of cyber
security or foreign exchange losses, (viii) the risk that CURRENC
is unable to secure or protect its intellectual property, (ix)
failure to maintain an effective system of internal control over
financial reporting and to accurately and timely report CURRENC’s
financial condition, results of operations or cash flows, and (x)
those factors discussed in INFINT’s filings with the SEC and that
are contained in the proxy statement relating to the Business
Combination. You should carefully consider the foregoing factors
and the other risks and uncertainties that will be described in the
“Risk Factors” section of the proxy statement and other documents
to be filed by CURRENC from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and while Seamless and INFINT may elect to update these
forward-looking statements at some point in the future, they assume
no obligation to update or revise these forward-looking statements,
whether as a result of new information, future events or otherwise,
unless required by applicable law. Neither Seamless nor INFINT
gives any assurance that Seamless and INFINT will achieve their
respective expectations.
Investor Contact
Takis Wong
+852-3951-6228investors@seamlessgroup.com
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