INFINT Acquisition Corporation Announces Intention to Voluntarily Delist from NYSE American LLC, Conditional Upon Consummation of its Pending Business Combination with Seamless Group Inc.
INFINT Acquisition has announced its intention to voluntarily delist its units and Class A ordinary shares from the NYSE American , conditional upon the completion of its pending business combination with Seamless Group Inc. This decision is driven by the company's plan to change its name to CURRENC Group Inc. post-merger, with expectations to trade on the Nasdaq Stock Market under the symbol 'CURR'.
The transition is anticipated to occur around August 21, 2024, with the last day of trading on NYSE American expected to be August 20, 2024. This move is subject to the successful closing of the business combination and meeting all Nasdaq listing requirements.
INFINT Acquisition ha annunciato la sua intenzione di ritirare volontariamente le sue unità e le azioni ordinarie di Classe A dalla NYSE American, a condizione che venga completata la sua combinazione aziendale in sospeso con Seamless Group Inc. Questa decisione è motivata dal piano dell'azienda di cambiare nome in CURRENC Group Inc. dopo la fusione, con l'aspettativa di quotarsi sul Nasdaq Stock Market con il simbolo 'CURR'.
La transizione è prevista intorno al 21 agosto 2024, con l'ultimo giorno di negoziazione sulla NYSE American atteso per il 20 agosto 2024. Questa mossa è soggetta alla chiusura positiva della combinazione aziendale e al soddisfacimento di tutti i requisiti di quotazione del Nasdaq.
INFINT Acquisition ha anunciado su intención de retirar voluntariamente sus unidades y acciones ordinarias de Clase A de la NYSE American, condicionado a la finalización de su combinación empresarial pendiente con Seamless Group Inc. Esta decisión está motivada por el plan de la empresa de cambiar su nombre a CURRENC Group Inc. después de la fusión, con expectativas de cotizar en el Nasdaq Stock Market bajo el símbolo 'CURR'.
Se anticipa que la transición ocurra alrededor del 21 de agosto de 2024, siendo el último día de negociación en la NYSE American esperado para el 20 de agosto de 2024. Este movimiento está sujeto al cierre exitoso de la combinación empresarial y al cumplimiento de todos los requisitos de cotización del Nasdaq.
INFINT Acquisition은 자발적으로 상장 폐지할 의사를 발표했습니다. 이는 Seamless Group Inc와의 비즈니스 조합이 완료되는 것을 조건으로 하며, 이 결정은 기업이 합병 후 CURRENC Group Inc.로 이름을 변경할 계획에 의해 이루어졌습니다. 회사는 CURR라는 심볼로 Nasdaq 주식 시장에 상장될 것으로 기대하고 있습니다.
전환은 2024년 8월 21일 경으로 예상되며, NYSE American에서의 마지막 거래일은 2024년 8월 20일이 될 것으로 보입니다. 이러한 조치는 비즈니스 조합의 성공적인 마감과 모든 Nasdaq 상장 요건의 충족을 조건으로 합니다.
INFINT Acquisition a annoncé son intention de se retirer volontairement de la NYSE American avec ses unités et actions ordinaires de Classe A, sous réserve de l'achèvement de sa combinaison d'affaires en cours avec Seamless Group Inc. Cette décision est motivée par le plan de la société de changer son nom en CURRENC Group Inc. après la fusion, avec des attentes de négocier sur le Nasdaq Stock Market sous le symbole 'CURR'.
On prévoit que la transition aura lieu aux alentours du 21 août 2024, le dernier jour de négociation à la NYSE American devant être le 20 août 2024. Ce mouvement est soumis à la clôture réussie de la combinaison d'affaires et à la satisfaction de toutes les exigences de cotation du Nasdaq.
INFINT Acquisition hat seine Absicht bekannt gegeben, seine Einheiten und A-Klasse Stammaktien freiwillig von der NYSE American abzulehnen, vorausgesetzt, die bevorstehende Unternehmenszusammenlegung mit Seamless Group Inc wird abgeschlossen. Diese Entscheidung beruht auf dem Plan des Unternehmens, seinen Namen nach der Fusion in CURRENC Group Inc. zu ändern, mit der Erwartung, unter dem Symbol 'CURR' im Nasdaq Stock Market zu handeln.
Der Übergang wird voraussichtlich um den 21. August 2024 stattfinden, wobei der letzte Handelstag an der NYSE American am 20. August 2024 erwartet wird. Dieser Schritt hängt von dem erfolgreichen Abschluss der Unternehmenszusammenlegung und dem Erfüllen aller Nasdaq-Listing-Anforderungen ab.
- Potential uplisting to Nasdaq, which may increase visibility and liquidity for shareholders
- Strategic business combination with Seamless Group Inc., potentially expanding market reach and operations
- Delisting from NYSE American, which may cause short-term trading disruptions
- Uncertainty regarding meeting Nasdaq listing requirements
Insights
This delisting announcement from INFINT Acquisition signals a significant corporate restructuring tied to its pending business combination with Seamless Group Inc. The move from NYSE American to Nasdaq, coupled with the name change to CURRENC Group Inc., suggests a strategic repositioning in the market.
Investors should note that this transition could potentially impact liquidity and trading volumes in the short term. However, the Nasdaq listing might offer increased visibility and access to a different investor base, particularly in the tech sector. The symbol change to "CURR" aligns with the new corporate identity, possibly indicating a shift in business focus.
While this move doesn't directly affect financials, it's important to monitor any changes in institutional ownership and analyst coverage post-transition, as these factors can influence stock performance.
The voluntary delisting and subsequent Nasdaq listing represent a strategic market positioning move for the soon-to-be CURRENC Group. This transition could potentially enhance the company's profile among tech-savvy investors and align it more closely with peers in the digital currency or fintech space, given the new name.
Investors should watch for any changes in trading patterns or valuation multiples post-listing. Nasdaq's reputation for hosting innovative companies might attract a different investor demographic, potentially impacting stock liquidity and volatility. The success of this move will largely depend on the market's reception of the combined entity's business model and growth prospects.
It's important to analyze the post-merger financials and synergy realization once available, as these will be key drivers of the stock's performance on its new exchange.
NEW YORK, NEW YORK, Aug. 09, 2024 (GLOBE NEWSWIRE) -- INFINT Acquisition Corporation (the “Company”) today announced that, in connection with its proposed business combination (the “Business Combination”) with Seamless Group Inc. (“Seamless”), it intends to voluntarily delist its units and Class A ordinary shares from the NYSE American LLC (“NYSE American”), subject to the closing of the Business Combination.
The Company’s decision to voluntarily delist its units and Class A ordinary shares from the NYSE American is due to the fact that upon the consummation of the Business Combination, the Company will change its corporate name to “CURRENC Group Inc.” (“Currenc”), and Currenc’s ordinary shares are expected to be traded on the Nasdaq Stock Market LLC (“Nasdaq”), subject to the closing of the Business Combination.
Trading of Currenc’s ordinary shares is currently expected to begin on Nasdaq at market open on or about August 21, 2024 under the symbol “CURR” following the consummation of the Business Combination. The last day of trading of the Company’s securities on NYSE American is expected to be on or about August 20, 2024. The delisting from NYSE American and the listing on Nasdaq are subject to the closing of the Business Combination and the fulfillment of all applicable listing requirements of Nasdaq.
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.
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of U.S. federal securities laws with respect to the proposed transaction between the Company and Seamless, including statements regarding the benefits of the transaction, the anticipated benefits of the transaction, the Company’s or Seamless’ expectations concerning the outlook for Currenc’s business, productivity, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, as well as any information concerning possible or assumed future results of operations. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are their managements’ current predictions, projections and other statements about future events that are based on current expectations and assumptions available to the Company and Seamless, and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed transaction may not be completed within the prescribed time frame, which may adversely affect the price of the Company’s securities, (ii) the risk that investors of Seamless may not receive the same benefits as an investor in an underwritten public offering, (iii) the risk that Currenc’s securities may experience a material price decline after the proposed transaction, (iv) the risk of product liability or regulatory lawsuits or proceedings relating to Seamless’ business; (v) a reduction of trust account proceeds and the per share redemption amount received by shareholders as a result of third-party claims, (vi) the risk that the transaction may not be completed by the Company’s business combination deadline and an extension period, (vii) the ability of Currenc to get approval for listing of its ordinary shares and comply with the continued listing standards of the Nasdaq, (viii) the failure to satisfy the conditions to the consummation of the transaction, certain of which may be outside of the Company or Seamless’ control, (ix) the ability to attract new partners, merchants and users and retain existing partners, merchants and users in order to continue to expand, (x) Currenc’ ability to integrate its services with a variety of operating systems, networks and devices; (ix) 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, (x) the risk of cyber security or foreign exchange losses, (xi) the risk that Currenc is unable to secure or protect its intellectual property; and (xii) 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.
The foregoing list of factors is not exhaustive. Forward-looking statements are not guarantees of future performance. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form S-4 filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”), the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on March 27, 2024, and other documents filed by the Company 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 all forward-looking statements in this document are qualified by these cautionary statements. The Company assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that either the Company or Currenc will achieve its expectations. The inclusion of any statement in this communication does not constitute an admission by the Company or Currenc or any other person that the events or circumstances described in such statement are material.
Additional Information and Where to Find It
This document relates to a proposed transaction between the Company and Seamless. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. In connection with the Business Combination, the Company filed a registration statement on Form S-4 with the SEC (as may be amended from time to time, the “Registration Statement”) on May 20, 2021, which included a proxy statement/prospectus of the Company. The SEC declared the Registration Statement effective on July 12, 2024.
The Registration Statement, including the proxy statement/prospectus contained therein, contains important information about the Business Combination and the other matters voted upon at the meeting of the Company’s shareholders approving the Business Combination (and related matters). The Company also filed other documents regarding the proposed transaction with the SEC. This document does not contain all the information that should be considered concerning the proposed transactions and is not intended to form the basis of any investment decision or any other decision in respect of the transactions.
Investors and shareholders will be able to obtain free copies of the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by the Company through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by the Company may be obtained free of charge from the Company’s website at https://www.infintspac.com/ or by written request to the Company at INFINT Acquisition Corporation, Suite 401, 32 Broadway, New York, NY 10004.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Participants in Solicitation
The Company and its respective directors and officers may be deemed to be participants in the solicitation of proxies from the Company’s shareholders in connection with the proposed transaction. Information about the Company’s directors and executive officers and their ownership of the Company’s securities is set forth in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on March 27, 2024, and the Registration Statement. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents as described in the preceding paragraph.
No Offer or Solicitation
This document is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the proposed transactions or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Contact
INFINT Acquisition Corporation
Alexander Edgarov
sasha@inifntspac.com
FAQ
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