Currenc Group Inc.(US:CURR) Globenewswire·2025-10-09 13:20Core Viewpoint - Currenc Group Inc. has announced an agreement to issue and sell up to $33.0 million of unsecured convertible promissory notes, aiming to strengthen its balance sheet and support growth initiatives [1][5]. Financing Details - The financing will provide the company with $30.0 million in new funding after deducting costs, with an initial $4.4 million already closed [1]. - The notes will mature on October 8, 2027, and bear an interest rate of 5.00% per annum, with 50% warrant coverage at an exercise price of $1.85 per share [2]. - The company may prepay the notes with a 10% prepayment premium and has the option to extend the maturity date by up to six months [2]. Use of Proceeds - Proceeds from the notes will be used for general corporate purposes, including working capital, growth initiatives, and potentially repaying existing debt [3]. Conversion and Prepayment Options - Holders of the notes can convert them into ordinary shares at an initial conversion price of $1.85 per share under certain conditions [2][3]. - In the event of a change of control, holders may require a cash prepayment at 110% of the outstanding principal or convert immediately prior to closing [4]. Company Vision and Market Position - The CEO of Currenc emphasized that securing this financing reflects strong investor confidence and positions the company to accelerate innovation and expand its AI product portfolio [5]. - Currenc Group Inc. is dedicated to transforming global financial services through AI, providing solutions that enhance efficiency and customer satisfaction for various financial institutions [9].