Company: APACU
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001829126-25-003414
Chunk: 175

Company: StoneBridge Acquisition II Corp
Filing Date: 2025-05-05
Form: S-1
Chunk 175
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ultaneously with the closing of the initial public offering, pursuant to the Prior SPAC completed a private sale of an aggregate of 8,000,000 warrants to the Prior SPAC’s sponsor and the underwriters in the initial public offering at a purchase price of $1.00 per private warrant, generating gross proceeds to the Prior SPAC of $8,000,000. A total of $202,000,000, comprised of the proceeds from the initial public offering after offering expenses and the proceeds of the sale of the private warrants, was placed in a U.S.-based trust account. The Prior SPAC originally had 15 months (subject to two extensions by its sponsor for three months each) from the closing of its initial public offering within which to consummate an initial business combination, which deadline was extended a couple of times. On January 5, 2023, the Prior SPAC entered into a business combination agreement with DigiAsia. On December 19, 2023, the Prior SPAC held an extraordinary general meeting of its shareholders in connection with the business combination. In connection with the business combination, approximately 98.5% of the Prior SPAC’s Class A ordinary shares exercised their right to redeem such shares for a pro rata portion of the funds in the Prior SPAC’s trust account. In connection the initial business combination with DigiAsia, the combined entity secured financing in the form of notes totalling $8,863,528 ($5,227,028.24 of which came from Scieniti LLC, an affiliate of the Prior SPAC and also of the Company). The business combination with DigiAsia was consummated on April 2, 2024. DigiAsia’s ordinary shares and warrants are listed on the Nasdaq Capital Market under the symbols “FAAS” and “FAASW,” respectively. The last reported sale price of DigiAsia’s ordinary shares on the Nasdaq Capital Market on May 2, 2025 was US$0.27 per share. The last reported sale price of DigiAsia’s warrants on the Nasdaq Capital Market on May 2, 2025 was US$0.03 per share.

On March 18, 2025 DigiAsia received a notice of non-compliance from the Nasdaq Stock Market LLC stating that, as a result of not having timely filed its interim report on Form 6-K for the six months ended June 30, 2024, DigiAsia was not in