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Currenc Group ( (CURR) ) just unveiled an announcement.
The INFINT and Seamless Business Combination, valued at around $400 million, led to significant financial transactions, including share redemptions and the beginning of trading for New Seamless’ Ordinary Shares under the symbol “CURR”. Over $54 million was paid out from INFINT’s Trust Account to redeeming shareholders, leaving a balance of approximately $1.12 million, supplemented by $1.75 million from a PIPE Offering. This capital, along with other funds, was used to cover transaction expenses and INFINT liabilities. Post-closing, the ownership structure of New Seamless changed, with public shareholders owning 0.20%, the Sponsor and affiliates 9.63%, and former Seamless shareholders 85.97%. INFINT’s shift from a shell company to an operational entity involved various financial adjustments, including the issuance of Ordinary Shares and Promissory Notes, and the establishment of the New Seamless Incentive Plan, all contributing to a complex financial landscape following the Business Combination.
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