Currenc Group Inc.
Filed Feb 14, 2025.
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A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Feb 14, 2025
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As filed with the U.S. Securities and Exchange Commission on February 14, 2025
Registration No. 333-
**UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMS-1
**REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
CURRENC GROUP INC.
(Exact Name of Registrant as Specified in its Charter)
| Cayman Islands | 6770 | 98-1602649 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification No.) |
410 North Bridge Road,
SPACES City Hall,
Singapore
Tel:+65 6407-7362
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)
Cogency Global Inc.
122 East 42nd Street,18th Floor
**New York, NY 10168 **
**+1 800-221-0102 **
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)
Copies to:
Andrew M. Tucker ****
Nelson Mullins Riley & Scarborough LLP ****
101 Constitution Ave NW, Suite 900 ****
Washington, DC 20001 ****
Telephone: (202) 689-2800
Approximate date of commencement of proposed sale to public: From time to time after the effective date hereof.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☐ |
|---|---|
| Non-accelerated filer ☒ | Smaller reporting company ☒ |
| Emerging growth company ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐
The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until the registration statement shall become effective on such date as the SEC, acting pursuant to Section 8(a) of the Securities Act, may determine.
The information contained in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
| PRELIMINARY PROSPECTUS | SUBJECT TO COMPLETION | DATED , 2025 |
|---|
Currenc Group Inc.
Secondary Offering of
Up to 10,150,000 Ordinary Shares
This prospectus relates to the offer and resale from time to time, upon the expiration of lock-up agreements, if applicable, of ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), of Currenc Group Inc. (the “Company” or “Currenc”)by the selling shareholders named in this prospectus (including their permitted transferees, donees, pledgees and other successors-in-interest) (collectively, the “Selling Shareholders” or “Selling Securityholders”) of:
| (i) | up to 10,000,000 Ordinary Shares that we may, in our sole discretion, elect to sell to Arena Business Solutions Global SPC II, Ltd, an exempted company with limited liability incorporated under the laws of Cayman Islands (“Arena” or “Selling Stockholder”), from time to time after the date of this prospectus, pursuant to that Purchase Agreement, dated as of February 10, 2025, by and between us and Arena (the “ELOC Purchase Agreement”). Sales of the Ordinary Shares pursuant to the ELOC Purchase Agreement, and the timing of any sales, are solely and exclusively at our option, and we are under no obligation to sell any securities to Arena under the ELOC Purchase Agreement; and |
| (ii) | up to 150,000 Ordinary Shares (the “ELOC Commitment Fee Shares”) issued to the Arena Investors as a commitment fee upon the execution of ELOC Purchase Agreement. |
We are not selling any securities under this prospectus and will not receive any of the proceeds from the sales of our Common Stock by the Selling Stockholders. However, we may receive up to $10,000,000 in aggregate gross proceeds under the ELOC Purchase Agreement from sales of our Ordinary Shares we may elect to make to Arena pursuant to the ELOC Purchase Agreement after the date of this prospectus. See the section of this prospectus entitled “Offering” for a description of the transactions and the section entitled “Selling Stockholders” for additional information about the Selling Stockholders.
Arena may sell or otherwise dispose of our Ordinary Shares described in this prospectus in a number of different ways and at varying prices. See “Plan of Distribution” for more information about how the Selling Stockholders may sell or otherwise dispose of our Ordinary Shares pursuant to this prospectus.
Each Selling Stockholder is an “underwriter” within the meaning of Section 2(a)(11) of the Securities Act of 1933, as amended (the “Securities Act”).
We will pay the expenses incurred in registering under the Securities Act the offer and sale of our Ordinary Shares to which this prospectus relates by the Selling Stockholders, including legal and accounting fees. See “Plan of Distribution.
Our Ordinary Shares are listed on the Nasdaq Capital Market under the symbols “CURR”. On February 10, 2025, the closing price of our Ordinary Shares was $1.42.
We are an “emerging growth company” as defined under the federal securities laws and, as such, have elected to comply with certain reduced public company reporting requirements.
Investing in our Ordinary Shares and Warrants is highly speculative and involves a high degree of risk. See the section entitled“Risk Factors” beginning on page 11 of this prospectus.**
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.
The date of this prospectus is , 2025
TABLE OF CONTENTS
| ABOUT THIS PROSPECTUS | ii |
|---|---|
| FREQUENTLY USED TERMS | iii |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | vi |
| MARKET AND INDUSTRY DATA | 1 |
| PROSPECTUS SUMMARY | 1 |
| THE OFFERING | 10 |
| RISK FACTORS | 11 |
| USE OF PROCEEDS | 47 |
| MARKET INFORMATION FOR COMMON STOCK AND DIVIDEND POLICY | 48 |
| MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 49 |
| DESCRIPTION OF CURRENC’S BUSINESS | 66 |
| DIRECTORS AND EXECUTIVE OFFICERS | 106 |
| EXECUTIVE COMPENSATION | 113 |
| PRINCIPAL STOCKHOLDERS | 124 |
| CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 125 |
| DESCRIPTION OF CAPITAL STOCK | 133 |
| MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES | 138 |
| SELLING SECURITYHOLDERS | 141 |
| PLAN OF DISTRIBUTION | 143 |
| EXPERTS | 144 |
| LEGAL MATTERS | 144 |
| WHERE YOU CAN FIND MORE INFORMATION | 144 |
| INDEX TO FINANCIAL STATEMENTS | F-1 |
i
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.