Company: APACU
Filing Date: 2025-07-07
Form Type: S-1/A
Source: 0001829126-25-004915
Chunk: 181

Company: StoneBridge Acquisition II Corp
Filing Date: 2025-07-07
Form: S-1/A
Chunk 181
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5-03/Chinese_Companies_Listed_on_US_Stock_Exchanges_03_2025.pdf |

<div align='center'>108</div>

The Prior SPAC was incorporated in the Cayman
Islands in February 2021. On July 20, 2021, the Prior SPAC consummated its initial public offering of 20,000,000 units for
total gross proceeds of $200 million. Each unit consisted of one Class A ordinary share and one-half of one redeemable warrant, with
each whole warrant entitling the holder thereof to purchase one Class A ordinary share for $11.50 per share. Simultaneously 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