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      Society Pass Incorporated (SOPA) stock is losing in the pre-market. Here’s why - Stocks Telegraph

      By ST Staff

      Published on

      February 9, 2022

      12:09 PM UTC

      Society Pass Incorporated (SOPA) stock is losing in the pre-market. Here’s why - Stocks Telegraph

      The stock price of Society Pass Incorporated (SOPA) closed the recent trading session at $4.68, gaining 42.68% from the previous trading session. The company filed the S-1/A form with the SEC on February 8, 2022. SOPA also announced the pricing of its unwritten public offering, after which the stock lost almost 31.62% to $3.20 during the pre-market. The company started trading in the November of 2021.

      SOPA News

      On February 8, 2022, SOPA announced the pricing of its underwritten public offering of 3.03 million shares. Gross returns, prior to deducting underwriting discounts and commissions and assessed offering costs, are relied upon to be roughly US$10 million. Each share will be sold along with one warrant at a consolidated price of $3.30. The warrants will be quickly exercisable at a cost of US$3.30 per share and will terminate after five years from the date of issuance.

      The Company has allowed the underwriters a 45-day choice to buy up to 0.45 million extra shares at the public offering price to cover over-allotment. The offer is relied upon to close on February 11, 2022.

      Russell 2000® Index

      On December 19, 2021, SOPA declared that the firm has been added to the Russell 2000 Index. The Russell 2000 Index looks at the presentation of stocks in the US securities exchange. The Russell 2000 Index is determined by cooperation in the vast market of the Russell 3000 Index. Russell lists are often used as record reserves and as benchmarks for dynamic trading. Russell’s US lists are utilized to check resources worth $10.6 trillion. Russell indexes are created by FTSE Russell, one of the most respected index providers.

      CEO Remarks

      The Chief Executive Officer (CEO) of SOPA, Dennis Nguyen, said that this is a thrilling achievement for Society Pass to reach after our fruitful IPO in November. He added that being a part of these important and well-regarded indexes will bring SOPA a greater market awareness as the company continues to work towards the growth and expansion of the company in South Asia.

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