Condensed financial information of the company |
SCHEDULE
1
Condensed
Financial Information of the Company
Condensed
financial information of the company
Condensed
balance sheets of the parent company
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
ASSETS | |
| | | |
| | |
Current assets: | |
| | | |
| | |
Cash and cash equivalents | |
| 130,634 | | |
| 78,968 | |
Short-term investments | |
| - | | |
| - | |
Prepayments, deposits and other receivables | |
| 76,492 | | |
| 66,245 | |
Amounts due from subsidiaries | |
| 6,155,464 | | |
| 6,869,413 | |
Amounts due from related parties | |
| 123,906 | | |
| 90,666 | |
Total current assets | |
| 6,486,496 | | |
| 7,105,292 | |
Investments in subsidiaries | |
| 20,682,970 | | |
| 26,470,719 | |
Investment in an equity security | |
| - | | |
| - | |
Total assets | |
| 27,169,466 | | |
| 33,576,011 | |
| |
| | | |
| | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | |
Current liabilities: | |
| | | |
| | |
Borrowings | |
| 11,162,844 | | |
| 11,577,451 | |
Accruals and other payables | |
| 9,621,542 | | |
| 5,410,027 | |
Amounts due to subsidiaries | |
| 7,302,130 | | |
| 2,640,735 | |
Amounts due to related parties | |
| 49,472,617 | | |
| 49,900,344 | |
Convertible bonds | |
| 10,000,001 | | |
| 9,192,141 | |
Total current liabilities | |
| 87,559,134 | | |
| 78,720,698 | |
Borrowings | |
| - | | |
| - | |
Convertible bonds | |
| - | | |
| - | |
Total liabilities | |
| 87,559,134 | | |
| 78,720,698 | |
| |
| | | |
| | |
Shareholders’ deficit: | |
| | | |
| | |
Common shares (US$0.001 par value; 58,030,000 shares authorized, issued and outstanding as of December 31, 2023 and 2022) | |
| 58,030 | | |
| 58,030 | |
Additional paid-in capital | |
| 29,172,373 | | |
| 29,172,373 | |
Accumulated deficit | |
| (89,542,157 | ) | |
| (74,235,607 | ) |
Accumulated other comprehensive loss | |
| (77,914 | ) | |
| (139,483 | ) |
Total shareholders’ deficit | |
| (60,389,668 | ) | |
| (45,144,687 | ) |
Total liabilities and shareholders’ deficit | |
| 27,169,466 | | |
| 33,576,011 | |
SEAMLESS
GROUP INC.
SCHEDULE
1
Condensed
Financial Information of the Company (Continued)
Condensed
statements of comprehensive income (loss)
| |
| | | |
| | |
| |
Years ended December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
General and administrative expenses | |
| (4,573,125 | ) | |
| (4,988,848 | ) |
Other income | |
| 3 | | |
| - | |
Finance costs, net | |
| (4,945,679 | ) | |
| (7,454,838 | ) |
Share of results from subsidiaries | |
| (5,787,749 | ) | |
| (4,234,448 | ) |
Income tax expenses | |
| - | | |
| - | |
Net loss | |
| (15,306,550 | ) | |
| (16,678,134 | ) |
Other comprehensive income (loss) | |
| | | |
| | |
Foreign currency translation adjustments | |
| 10,608 | | |
| 4,529 | |
Total comprehensive loss | |
| (15,295,942 | ) | |
| (16,673,605 | ) |
SEAMLESS
GROUP INC.
SCHEDULE
1
Condensed
Financial Information of the Company (Continued)
Condensed
statements of cash flows
| |
| | | |
| | |
| |
Years ended December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
Cash flows from operating activities: | |
| | | |
| | |
Net loss | |
| (15,306,550 | ) | |
| (16,678,134 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: | |
| | | |
| | |
Amortization of discount on convertible bonds | |
| 807,861 | | |
| 3,438,951 | |
Unrealized foreign exchange gain | |
| 23,008 | | |
| (644 | ) |
Share of results from subsidiaries | |
| 5,787,749 | | |
| 4,234,448 | |
Changes in operating assets and liabilities: | |
| | | |
| | |
Prepayments, deposits and other receivables | |
| (30,862 | ) | |
| (9,900 | ) |
Accruals and other payables | |
| 4,206,601 | | |
| 3,797,118 | |
Net cash used in operating activities | |
| (4,512,193 | ) | |
| (5,218,161 | ) |
| |
| | | |
| | |
Cash flows from investing activities: | |
| | | |
| | |
Dividend received from a subsidiary | |
| - | | |
| 2,847,309 | |
(Increase) decrease in short-term investments | |
| - | | |
| 2,012,562 | |
Cash injected into a subsidiary | |
| - | | |
| (2,012,562 | ) |
Net cash (used in) provided by investing activities | |
| - | | |
| 2,847,309 | |
| |
| | | |
| | |
Cash flows from financing activities: | |
| | | |
| | |
Proceeds from borrowings | |
| 1,251,752 | | |
| 2,758,213 | |
Repayment of borrowings | |
| (1,663,042 | ) | |
| (1,276,950 | ) |
Repayment of convertible bonds | |
| - | | |
| (3,483,133 | ) |
Amounts due from related parties | |
| 691,323 | | |
| 301,958 | |
Amounts due to related parties | |
| 4,283,780 | | |
| 4,123,866 | |
Net cash provided by financing activities | |
| 4,563,813 | | |
| 2,423,954 | |
| |
| | | |
| | |
Net decrease in cash and cash equivalents | |
| 51,620 | | |
| 53,102 | |
Effect of exchange rate changes on cash and cash equivalents | |
| 46 | | |
| 218 | |
Cash and cash equivalents at beginning of year | |
| 78,968 | | |
| 25,648 | |
Cash and cash equivalents at end of year | |
| 130,634 | | |
| 78,968 | |
SEAMLESS
GROUP INC.
SCHEDULE
1
Condensed
Financial Information of the Company (Continued)
Basis
of presentation
Condensed
financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the
parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements
except that the parent company used the equity method to account for investment in its subsidiaries.
The
parent company records its investment in its subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments-Equity
Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investments in subsidiaries”
and their respective results as “Share of results from subsidiaries” on the condensed statements of comprehensive income
(loss). Equity method accounting ceases when the carrying amount of the investment, including any additional financial support, in subsidiaries,
is reduced to zero unless the parent company has guaranteed obligations of the subsidiaries or is otherwise committed to provide further
financial support. If the subsidiaries report net income, the parent company shall resume applying the equity method only after its share
of that net income equals the share of net income (loss) not recognized during the period the equity method was suspended.
The
parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.
Summarized
financial information for the significant subsidiaries is as follows:
Summarized
investment activity is as follows:
| |
| | | |
| | |
| |
December 31, | |
| |
2023 | | |
2022 | |
| |
US$ | | |
US$ | |
| |
| | |
| |
Balance at the beginning of year | |
| 26,470,719 | | |
| 26,171,064 | |
Allocated loss | |
| (5,787,749 | ) | |
| (7,081,757 | ) |
Balance at the end of year | |
| 20,682,970 | | |
| 19,089,307 | |
Commitments
The
Company does not have significant commitments or long-term obligations as of the period end other than those presented.
PART
II – INFORMATION NOT REQUIRED IN PROSPECTUS
Item
13. Other Expenses of Issuance Distribution.
The
following table sets forth the expenses in connection with this registration statement.
SEC registration fee | |
$ | 2,643.965 | |
Accounting fees and expenses | |
| * | |
Legal fees and expenses | |
| * | |
Printing and miscellaneous expenses | |
| * | |
Total: | |
$ | * | |
*
These fees are calculated based on the securities offered and the number of issuances and accordingly cannot be determined
Item
14. Indemnification of Directors and Officers
Cayman
Islands law does not limit the extent to which a company’s memorandum and articles of association may provide for indemnification
of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public
policy, such as to provide indemnification against willful default, actual fraud or the consequences of committing a crime. Our amended
and restated memorandum and articles of association provides for indemnification of our officers and directors to the maximum extent
permitted by law, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default
or willful neglect. We have entered into agreements with our directors and officers to provide contractual indemnification in addition
to the indemnification provided for in our amended and restated memorandum and articles of association. We have purchased a policy of
directors’ and officers’ liability insurance that insures our officers and directors against the cost of defense, settlement
or payment of a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors.
Our
officers and directors have agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account,
and have agreed to waive any right, title, interest or claim of any kind they may have in the future as a result of, or arising out of,
any services provided to us and will not seek recourse against the trust account for any reason whatsoever (except to the extent they
are entitled to funds from the trust account due to their ownership of public shares). Accordingly, any indemnification provided will
only be able to be satisfied by us if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business
combination.
We
believe that these provisions, the insurance and the indemnity agreements are necessary to attract and retain talented and experienced
officers and directors.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us
pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable.
Item
15. Recent Sales of Unregistered Securities
The
Company has not sold any within the past three years which were not registered under the Securities Act of 1933 except as follows:
On
February 10, 2025, we entered into the ELOC Purchase Agreement with Arena. Pursuant to the ELOC Purchase Agreement, we have the right
to sell to Arena up to $10.0 million (“Commitment Amount”) of our Ordinary Shares, in multiple tranches upon satisfaction
of certain terms and conditions contained in the ELOC Purchase Agreement, which includes, but is not limited to, filing a registration
statement with the SEC and registering the resale of any shares sold to Arena Global. The foregoing description of the ELOC Purchase
Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the ELOC Purchase Agreement,
a copy of which is filed as Exhibit 10.47 to this Registration Statement and is incorporated herein by reference.
On
June 15, 2025, the Company entered into the Creditor Share Purchase Agreement with the nine Creditors named therein, pursuant to which
the Company issued an aggregate of 28,360,373 Ordinary Shares in full satisfaction of an aggregate amount of $12,166,600 of the Company’s
outstanding unsecured obligations (the “Obligations”) owed to the Creditors, at a price per share of $0.43, equating in each
case to a $0.50 discount for each $1.00 of Obligations. Other than the satisfaction of the Obligations, the Company did not receive any
additional consideration in connection with the issuance of Ordinary Shares to the Creditors. The Creditor Share Purchase Agreement includes
standard representations, warranties, and remedies for the parties. On June 19, 2025, the Company and the Creditors entered into Amendment
No. 1 to the Share Purchase Agreement (“Amendment No. 1”), which amended the closing date on which the Company would issue
the Ordinary Shares and the date on which the Obligations would be satisfied, from June 19, 2025, to June 30, 2025, or such other date
as the Company and the Creditors may mutually agree. On June 27, 2025, the Company closed the transaction and issued the Ordinary Shares
to the Creditors. The foregoing descriptions of the Creditor Share Purchase Agreement and Amendment No.1 do not purport to be complete
and are qualified in their entirety by reference to the Creditor Share Purchase Agreement and Amendment No.1, which are filed as Exhibit
10.48 and 10.49 to this Registration Statement and are incorporated herein by reference.
On June 20, 2025, the Company entered
into a Warrant Exchange Agreement with Alta Partners, LLC, pursuant to which it exchanged 518,934 of its existing public warrants for
86,489 Ordinary Shares (the “Alta Exchange Agreement”). The Alta Exchange Agreement was entered into in connection with the
settlement and release of certain existing claims between Alta and the Company, pursuant to a Settlement Agreement between the parties,
dated June 20, 2025 (the “Alta Settlement Agreement”). The foregoing descriptions of the Alta Exchange Agreement and the
Alta Settlement Agreement do not purport to be complete and are qualified in their entirety by reference to the Alta Exchange Agreement
and the Alta Settlement Agreement, which are filed as Exhibit 10.51 and 10.52 to this Registration Statement and are incorporated herein
by reference.
The
Selling Securityholders may offer and sell, from time to time, any or all of the Ordinary Shares being offered for resale by this prospectus,
which consist of:
| ● | 20,000,000
Ordinary Shares, issued pursuant to the terms of the ELOC Purchase Agreement; |
| | |
| ● | 600,000
Commitment Fee Shares issued pursuant to the terms of the ELOC Purchase Agreement; |
| | |
| ● | 81,818
Ordinary Shares issued to Roth pursuant to the terms of the Roth Agreement; |
| | |
| ● | 1,027,996
Ordinary Shares issued to Pine Mountain upon conversion of the PIPE Note; and |
| | |
| ● | 28,360,373
Ordinary Shares, issued pursuant to the terms of the Creditor Share Purchase Agreement. |
Item 16. Exhibits
The following is a list of exhibits filed as a part of this registration
statement:
Exhibit
Number |
|
Description |
2.1* |
|
Business Combination Agreement, dated as of August 3, 2022, by and among INFINT Acquisition Corporation, FINTECH Merger Sub Corp. and Seamless Group Inc. (included as Annex A to the proxy statement/prospectus) |
2.2* |
|
Amendment No. 1 to the Business Combination Agreement, dated as of October 20, 2022, by and among INFINT, Merger Sub and Seamless (included as Annex A to the proxy statement/prospectus) |
2.3* |
|
Amendment No. 2 to the Business Combination Agreement, dated as of November 29, 2022, by and among INFINT, Merger Sub and Seamless (included as Annex A to the proxy statement/prospectus) |
2.4* |
|
Amendment No. 3 to the Business Combination Agreement, dated as of February 20, 2023, by and among INFINT, Merger Sub and Seamless (included as Annex A to the proxy statement/prospectus) |
3.1* |
|
Second Amended and Restated Memorandum and Articles of Association of INFINT Acquisition Corporation, dated February 14, 2023 (incorporated herein by reference to Exhibit 3.1 to Form 8-K (File No. 001-41079) as filed with the SEC on February 15, 2023) |
3.2* |
|
Third Amended and Restated Memorandum and Articles of Association of INFINT Acquisition Corporation, dated August 18, 2023 (incorporated herein by reference to Exhibit 3.1 to Form 8-K (File No. 001-41079) as filed with the SEC on August 22, 2023) |
3.3* |
|
Fourth Amended and Restated Memorandum and Articles of Association of INFINT Acquisition Corporation, dated February 16, 2024 (incorporated herein by reference to Exhibit 3.1 to Form 8-K (File No. 001-41079) as filed with the SEC on February 20, 2024) |
3.4* |
|
Fifth Amended and Restated Memorandum and Articles of Association of Currenc Group Inc. (incorporated herein by reference to Exhibit 3.1 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
4.1* |
|
Specimen Class A Ordinary Share Certificate (incorporated herein by reference to Exhibit 4.2 to Form S-1/A (File No. 333-256310) as filed with the SEC on November 10, 2021) |
4.2* |
|
Specimen Ordinary Share Certificate (incorporated herein by reference to Exhibit 3.2 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
4.3* |
|
Warrant Agreement, dated November 23, 2021, between INFINT Acquisition Corporation and Continental Stock Transfer & Trust Company, as warrant agent (incorporated herein by reference to Exhibit 4.1 to Form 8-K (File No. 001-41079) as filed with the SEC on December 1, 2021) |
5.1** |
|
Opinion of Ogier (Cayman) LLP |
10.1* |
|
Registration Rights Agreement, dated November 23, 2021, among INFINT Acquisition Corporation and certain security holders named therein (incorporated herein by reference to Exhibit 10.2 to Form 8-K (File No. 001-41079) as filed with the SEC on December 1, 2021) |
10.2* |
|
Letter Agreement, dated November 23, 2021, among INFINT Acquisition Corporation, INFINT Capital LLC certain security holders named therein (incorporated herein by reference to Exhibit 10.7 to Form 8-K (File No. 001-41079) as filed with the SEC on December 1, 2021) |
10.3* |
|
Investment Management Trust Agreement, dated November 23, 2021, between INFINT Acquisition Corporation and Continental Stock Transfer & Trust Company, as trustee (incorporated herein by reference to Exhibit 10.1 to Form 8-K (File No. 001-41079) as filed with the SEC on December 1, 2021) |
10.4* |
|
Currenc Group Inc. 2024 Equity Incentive Plan (incorporated herein by reference to Exhibit 10.1 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.5* |
|
Form of Lock-up Agreement (incorporated herein by reference to Exhibit 10.2 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.6* |
|
Form of Registration Rights Agreement (incorporated herein by reference to Exhibit 10.3 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.7* |
|
Shareholder Support Agreement, dated as of August 3, 2022, by and among INFINT and certain shareholders of Seamless (included as Annex G to the proxy statement/prospectus) |
10.8* |
|
Sponsor Support Agreement, dated as of August 3, 2022, by and among INFINT, Sponsor and Seamless (included as Annex H to the proxy statement/prospectus) |
10.9* |
|
Option Deed for the Grant of Option, dated as of June 2, 2022, by and between Seamless Group Inc. and Noble Tack International Limited |
10.10(a)* |
|
Amended and Restated Convertible Bond Instrument, dated September 14, 2021, and related Amendment Agreement, dated September 14, 2021, by and among Seamless Group Inc., Regal Planet Limited and Chelsea Vanguard Fund |
10.10(b)* |
|
Amended Agreement, dated September 14, 2021, by and among Seamless Group Inc., Regal Planet Limited and Chelsea Vanguard Fund. |
10.10(c)* |
|
Second Amendment Agreement dated December 9, 2022 between Seamless Group Inc. and Chelsea Vanguard Fund |
10.10(d)* |
|
Loan Agreement dated December 9, 2022 between Seamless Group Inc. and Chelsea Vanguard Fund |
10.10(e)* |
|
Third Amended Agreement dated September 14, 2023, by and among Seamless Group Inc., Regal Planet Limited and Chelsea Vanguard Fund. |
10.10(f)* |
|
Second Amended and Restated Convertible Bond Instrument, dated September 13, 2023, by and among Seamless Group Inc., Regal Planet Limited and Chelsea Vanguard Fund. |
10.11* |
|
Loan Agreement, dated August 26, 2022 by and between Seamless Group Inc. and Regal Planet Limited |
10.12* |
|
Loan Agreement, dated March 15, 2022, by and between Seamless Group Inc. and Regal Planet Limited |
10.13* |
|
Loan Agreement, dated December 28, 2021, by and between Seamless Group Inc. and Alexander Kong King Ong |
10.14* |
|
Loan Agreement, dated January 12, 2022, by and between Seamless Group Inc. and Hui Ka Wah Ronnie |
10.15* |
|
Loan Agreement, dated December 20, 2021, by and between Seamless Group Inc. and Wong Wing Chi |
10.16* |
|
Pay-Out Support Provider Agreement: Tranglo, dated March 10, 2021, by and between Ripple Services Inc. and Tranglo Pte. Ltd. |
10.17* |
|
Pay-Out Support Provider Addendum, dated March 10 2021, by and between Ripple Services Inc. and Tranglo Pte. Ltd. |
10.18* |
|
Addendum to Terms and Conditions of Independent Reserve, dated June 21, 2021, by and between Tranglo Pte. Ltd. and Independent Reserve SG Pte. Ltd. |
10.19* |
|
Memorandum of Agreement, dated May 12, 2021, by and between Betur, Inc. and Tranglo Pte. Ltd. |
10.20* |
|
Coins.ph User Agreement, dated April 1, 2013 |
10.21* |
|
Independent Reserve Terms and Conditions |
10.22* |
|
Cooperation Agreement between PT E2Pay Global Utama and PT WalletKu Indompet Indonesia Regarding Use of Electronic Money Products dated March 18, 2020 |
10.23* |
|
Addendum I of Use of Electronic Money Products Cooperation Agreement, dated December 1, 2022, by and between PT E2Pay Global Utama and PT WalletKu Indompet Indonesia. |
Exhibit
Number |
|
Description |
10.24* |
|
Promissory Note, dated May 1, 2023, issued by INFINT Acquisition Corporation to InFinT Capital LLC (incorporated herein by reference to Exhibit 10.1 to Form 8-K as filed with the SEC on May 4, 2023) |
10.25* |
|
Deed of Guarantee, dated May 25, 2023, by and among Regal Planet Limited, Seamless Group Inc., Alexander King Kong Ong and Ripple Labs Singapore Pte. Ltd. |
10.26(a)* |
|
Shareholders’ Agreement relating to Tranglo Sdn Bhd, dated March 19,2021, by and among Tranglo Sdn Bhd, Ripple Labs Singapore Pte. Ltd, and TNG Fintech Group Inc. (predecessor to Seamless Group Inc.) |
10.26(b)* |
|
Amendment No. 1 to Shareholders’ Agreement, dated April 13, 2023, by and between among Tranglo Sdn Bhd, Ripple Labs Singapore Pte. Ltd, and Seamless Group Inc. |
10.27* |
|
Deed of Guarantee, dated September 16, 2022, by and among Regal Planet Limited, Seamless Group Inc., Alexander Kong King Ong and Ripple Labs Singapore Pte. Ltd. |
10.28* |
|
Master XRP Commitment to Sell Agreement, dated September 12, 2022, by and among Ripple Labs Singapore Pte. Ltd. and GEA Limited. |
10.29* |
|
Side Letter to the Shareholders’ Agreement relating to Tranglo Sdn Bhd, dated November 29, 2021, by and among Tranglo Sdn Bhd, Ripple Labs Singapore Pte. Ltd, and TNG Fintech Group Inc. (predecessor to Seamless Group Inc.) |
10.30* |
|
Secondment Agreement, dated November 29, 2021, by and among Ripple Labs Singapore Pte. Ltd., Tranglo Sdn Bhd and Tranglo Pte Ltd. |
10.31(a)* |
|
Master XRP Commitment to Sell Agreement, dated March 10, 2022, by and among Ripple Labs Singapore Pte. Ltd. and Tranglo Pte. Ltd. |
10.31(b)* |
|
Amendment to Master XRP Commitment to Sell Agreement, dated April 15, 2022, by and among Ripple Labs Singapore Pte. Ltd. and Tranglo Pte. Ltd. |
10.31(c)* |
|
Amendment No.2 to Master XRP Commitment to Sell Agreement, dated May 24, 2022, by and among Ripple Labs Singapore Pte. Ltd. and Tranglo Pte. Ltd. |
10.31(d)* |
|
Amendment No.3 to Master XRP Commitment to Sell Agreement, dated September 12, 2022, by and among Ripple Labs Singapore Pte. Ltd. and Tranglo Pte. Ltd. |
10.31(e)* |
|
Amendment No.4 to Master XRP Commitment to Sell Agreement, dated December 31, 2023, by and among Ripple Labs Singapore Pte. Ltd. and Tranglo Pte. Ltd.
|
10.32* |
|
Side Letter to the Shareholders’ Agreement relating to the first shareholders’ meeting, dated December 15, 2021, by and among Tranglo Sdn Bhd, Ripple Labs Singapore Pte. Ltd, and TNG Fintech Group Inc. (predecessor to Seamless Group Inc.) |
10.33* |
|
Side Letter to the Secondment Agreement, dated June 27, 2023 by and among Ripple Labs Singapore Pte. Ltd., Tranglo Sdn Bhd and Tranglo Pte Ltd. |
10.34* |
|
Side Letter to the Shareholders’ Agreement, dated November 7, 2023, by and among Tranglo Sdn Bhd, Ripple Markets APAC Pte Ltd. (successor to Ripple Labs Singapore Pte. Ltd) and Seamless Group Inc. (successor to TNG Fintech Group Inc.) |
10.35* |
|
Amended and Restated Promissory Note, dated September 13, 2023, issued by INFINT Acquisition Corporation to InFinT Capital LLC (incorporated herein by reference to Exhibit 10.1 to Form 8-K as filed with the SEC on September 15, 2023) |
10.36* |
|
Promissory Note, dated March 6, 2024, issued by INFINT Acquisition Corporation to Seamless Group Inc. (incorporated herein by reference to Exhibit 10.1 to Form 8-K as filed with the SEC on March 15, 2024) |
10.37* |
|
Side Letter Regarding Termination of the Second Agreement, dated January 1, 2024, by and among Ripple Labs Singapore Pte. Ltd., Tranglo Sdn Bhd and Tranglo Pte Ltd |
10.38* |
|
Bitstamp Global Ltd Terms and Conditions |
10.39* |
|
Philippine Digital Asset Exchange Terms and Conditions |
10.40* |
|
Consent Letter, dated as of May 22, 2024, by and between Seamless Group Inc. and Noble Tack International Limited |
10.41* |
|
Convertible Note Purchase Agreement, dated August 30, 2024, by and between Currenc Group Inc., Seamless Group Inc, and Pine Mountain Holdings Limited. (incorporated herein by reference to Exhibit 10.5 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.42* |
|
Form of Note (incorporated herein by reference to Exhibit 10.6 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.43* |
|
Form of Warrant Agreement dated August 30, 2024, by and between Currenc Group Inc., Seamless Group Inc, and Pine Mountain Holdings Limited. (incorporated herein by reference to Exhibit 10.7 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.44* |
|
Promissory Note dated August 30, 2024 by and between INFINT Acquisition Corp. and EF Hutton LLC (incorporated herein by reference to Exhibit 10.8 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.45* |
|
Promissory Note dated August 30, 2024 by and between INFINT Acquisition Corp. and Greenberg Traurig LLP (incorporated herein by reference to Exhibit 10.9 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.46* |
|
Promissory Note dated August 30, 2024 by and between INFINT Acquisition Corp. and INFINT Capital LLC (incorporated herein by reference to Exhibit 10.10 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
|
|
List of Subsidiaries of Currenc Group Inc. (incorporated herein by reference to Exhibit 21.1 to Form 8-K (File No. 001-41079) as filed with the SEC on September 6, 2024) |
10.47* |
|
ELOC Purchase Agreement dated February 10, 2025 by and between Currenc Group, Inc. and Arena Business Solutions Global SPC II, LTD. |
10.48* |
|
Share Purchase Agreement, dated June 15, 2025 by and between Currenc Group, Inc. and the Creditors listed therein (incorporated herein by reference to Exhibit 10.1 to Form 8-K (File No. 001-41079) as filed with the SEC on June 20, 2025) |
10.49* |
|
Amendment No.1 to Share Purchase Agreement, dated June 19, 2025, by and between Currenc Group, Inc. and the Creditors listed therein (incorporated herein by reference to Exhibit 10.2 to Form 8-K (File No. 001-41079) as filed with the SEC on June 20, 2025) |
10.50* |
|
Settlement Agreement, dated June 20, 2025, by and between Currenc Group, Inc. and Alta Partners, LLC (incorporated herein by reference to Exhibit 10.1 to Form 8-K (File No.001-41079) as filed with the SEC on June 25, 2025 |
10.51* |
|
Warrant Exchange Agreement, dated June 20, 2025, by and between Currenc Group, Inc. and Alta Partners, LLC (incorporated herein by reference to Exhibit 10.2 to Form 8-K (File No.001-41079) as filed with the SEC on June 25, 2025 |
23.1** |
|
Consent of Marcum LLP |
23.2** |
|
Consent of MRI Moores Rowland LLP |
23.3** |
|
Consent of Ogier (Cayman) LLP (included as part of Exhibit 5.1) |
24.1** |
|
Power of Attorney (included on the signature page hereto) |
107** |
|
Filing Fee Table |
101.INS |
|
Inline
XBRL Instance Document |
101.SCH |
|
Inline
XBRL Taxonomy Extension Schema Document |
101.CAL |
|
Inline
XBRL Taxonomy Extension Calculation Linkbase Document |
101.DEF |
|
Inline
XBRL Taxonomy Extension Definition Linkbase Document |
101.LAB |
|
Inline
XBRL Taxonomy Extension Label Linkbase Document |
101.PRE |
|
Inline
XBRL Taxonomy Extension Presentation Linkbase Document |
104** |
|
Cover
Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
* |
Previously
filed. |
|
|
** |
Filed
herewith. |
Item 17. Undertakings
(a) |
The
undersigned registrant hereby undertakes: |
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities
offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration
Fee” table in the effective registration statement.
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement.
Provided,
however, that: provided, however, that: Paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission
by the registrant pursuant to Section 13 or Section 15(d) of the Securities and Exchange Act of 1934, as amended (the “Exchange
Act”), that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant
to Rule 424(b) that is part of the registration statement.
(2)
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
(4)
That, for the purpose of determining liability under the Securities Act to any purchaser, each prospectus filed pursuant to Rule 424(b)
as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses
filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used
after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration
statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is
part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify
any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such
document immediately prior to such date of first use.
(5)
That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution
of the securities:
The
undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration
statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold
to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will
be considered to offer or sell such securities to such purchaser:
(i)
Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule
424;
(ii)
Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by
the undersigned registrant;
(iii)
The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
or its securities provided by or on behalf of the undersigned registrant; and
(iv)
Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities
and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.
Signatures
Pursuant
to the requirements of the Securities Act, the registrant has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, on June 30, 2025.
|
CURRENC
GROUP INC. |
|
|
|
|
By: |
/s/
Ronnie Ka Wah Hui |
|
Name:
|
Ronnie
Ka Wah Hui |
|
Title: |
Chief
Executive Officer |
POWER
OF ATTORNEY
Each
person whose signature appears below hereby constitutes and appoints Ronnie Ka Wah Hui, the individual’s true and lawful attorney-in-fact
and agent, with full power of substitution and resubstitution, for the person and in his or her name, place and stead, in any and all
capacities, to sign this Registration Statement and any or all amendments, including post-effective amendments to the Registration Statement,
including a prospectus or an amended prospectus therein and any Registration Statement for the same offering that is to be effective
upon filing pursuant to Rule 462 under the Securities Act, and all other documents in connection therewith to be filed with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he
or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact as agents or any of them, or their
substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement and Power of Attorney have been signed by
the following persons in the capacities indicated on the 30th day of June, 2025.
Signature |
|
Title |
|
|
|
/s/
Ronnie Ka Wah Hui |
|
Chief
Executive Officer |
Ronnie
Ka Wah Hui |
|
(Principal
Executive Officer) |
|
|
|
/s
/ Wan Lung Eng |
|
Chief
Financial Officer |
Wang
Lung Eng |
|
(Principal
Financial and Accounting Officer) |
|
|
|
/s/
Alexander King Ong Kong |
|
Executive
Chairman and Board Director |
Alexander
King Ong Kong |
|
|
|
|
|
/s/
Eng Ho Ng |
|
Director |
Eng
Ho Ng |
|
|
|
|
|
/s/
Kevin Chen |
|
Director |
Kevin
Chen |
|
|
|
|
|
/s/
Eric Weinstein |
|
Director |
Eric
Weinstein |
|
|
SIGNATURE
OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES
Pursuant
to the requirements of the Securities Act of 1933, the undersigned, the duly authorized representative in the United States of Currenc
Group Inc., has signed this registration statement on June 30, 2025.
Authorized
United States Representative
/s/
Colleen A. De Vries |
|
Name:
|
Colleen
A. De Vries |
|
Title: |
Senior
Vice President |
|
|