Currenc Group Inc. completed a $54.6 million Shares-for-Debt transaction, eliminating related party loans from its balance sheet.
Quiver AI Summary
Currenc Group Inc. (Nasdaq: CURR), a fintech company focused on AI solutions for financial institutions, has completed a $54.6 million Shares-for-Debt Transaction with its Founder and Executive Chairman, Alex Kong, and Regal Planet Limited, the controlling shareholder. This agreement involved the issuance of 35,653,995 ordinary shares to Kong and Regal Planet to settle related party loans totaling approximately $54.5 million, effectively eliminating the company's debt and aligning Kong's interests with those of shareholders. Kong emphasized that this transaction strengthens the company's capital structure and reflects his confidence in Currenc's growth potential. The share issuance was made under a registration exemption and is subject to resale restrictions.
Potential Positives
- The completion of a $54.6 million Shares-for-Debt Transaction eliminates significant outstanding debt from the company's balance sheet, strengthening its financial position.
- This transaction aligns the interests of the Chairman, Alex Kong, with those of shareholders, enhancing trust in the company's leadership.
- Mr. Kong's reinvestment of over $54 million into equity demonstrates his confidence in the company's long-term growth and prospects.
- The announcement highlights Currenc’s commitment to empowering financial institutions with innovative AI solutions, reinforcing its position as a fintech leader.
Potential Negatives
- The Shares-for-Debt Transaction may raise concerns regarding corporate governance and the potential for conflicts of interest, as it involves related parties (Mr. Alex Kong and Regal Planet) in a significant financial arrangement.
- The issuance of a large number of shares (35,653,995) could lead to share dilution, impacting existing shareholders' equity and potentially affecting stock price negatively.
- The reliance on an exemption from registration under the Securities Act may limit liquidity for the newly issued shares, which could deter potential investors.
FAQ
What is the recent transaction by Currenc Group Inc.?
Currenc Group Inc. completed a $54.6 million Shares-for-Debt Transaction with its Founder, Mr. Alex Kong, and Regal Planet Limited.
How many shares were issued in the transaction?
The Company issued an aggregate of 35,653,995 ordinary shares to settle outstanding related party loans.
What does the Shares-for-Debt Transaction achieve?
This transaction eliminates approximately $54.5 million in debt and aligns the Chairman's interests with those of shareholders.
Who is the controlling shareholder of Currenc Group Inc.?
The controlling shareholder is Regal Planet Limited, which is also controlled by Founder Alex Kong.
What is Currenc Group's focus in the fintech sector?
Currenc focuses on empowering financial institutions globally with AI-driven solutions to enhance efficiency and customer satisfaction.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CURR Analyst Ratings
Wall Street analysts have issued reports on $CURR in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Roth MKM issued a "Buy" rating on 03/05/2025
To track analyst ratings and price targets for $CURR, check out Quiver Quantitative's $CURR forecast page.
Full Release
SINGAPORE, Aug. 08, 2025 (GLOBE NEWSWIRE) -- Currenc Group Inc. (Nasdaq: CURR) (“Currenc” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced the completion of a $54.6 million Shares-for-Debt Transaction with its Founder and Executive Chairman, Mr. Alex Kong, and Regal Planet Limited (“Regal Planet”), the Company’s controlling shareholder, which is also controlled by Mr. Kong.
Under the terms of a Shares-for-Debt Agreement, the Company issued an aggregate of 35,653,995 ordinary shares to Mr. Kong and Regal Planet to settle the full outstanding related party loans totaling approximately $54,550,612.30, based on the updated balance as of July 22, 2025. The move completely eliminates the debt, which originated under various loan agreements between Currenc, Mr. Kong, and Regal Planet, from the Company’s balance sheet and powerfully aligns the Chairman’s interests with those of all shareholders.
“This transaction achieves two critical goals: it significantly strengthens our capital structure, and just as importantly, underscores my profound confidence in Currenc’s long-term growth prospects,” said Mr. Kong. “By personally reinvesting over $54 million of loans into equity, I am doubling down on the shared vision I hold with our management, employees, and fellow shareholders, and sharpening our focus on executing our mission to empower financial institutions globally with our AI-driven solutions.”
The issuance of shares was made in reliance on an exemption from registration under the Securities Act of 1933, as amended, and the shares issued are subject to applicable restrictions on resale.
About Currenc Group Inc.
Currenc Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor & Media Contact
Currenc Group Investor Relations
Email: [email protected]
SOURCE: Currenc Group Inc.
