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Common Shares to Trade on NASDAQ under Ticker “SOPA”

Society Pass Incorporated (Nasdaq: SOPA) (SoPa or the Company), a leading Southeast Asian data-driven loyalty platform, today announced the pricing of its US$26 million initial public offering, offering 2,888,889 shares of common stock (the Shares) at a price of $9.00 per share. The shares have been approved for listing on the Nasdaq Capital Market (Nasdaq) and will trade under the ticker symbol SOPA beginning November 9, 2021.

The Company has granted the underwriters a 45-day option to purchase up to 433,333 additional shares at the initial public offering price to cover over-allotments, if any. The offering is expected to close on November 12, 2021, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager for the offering.
“We are immensely proud to be the first Vietnam-based company to complete a traditional IPO on a stock market outside of Vietnam. As an acquisition-led technology company, this milestone marks the beginning of our next phase of growth as we expand beyond Vietnam into other parts of Southeast Asia with particular focuses on Philippines and Indonesia. Our Nasdaq IPO and access to public markets allow us to connect investors to some of the fastest growing retail e-commerce opportunities in the world,” said Dennis Nguyen, Founder, Chairman and Chief Executive Officer, Society Pass.

A registration statement relating to the Shares was declared effective by the SEC on November 8, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Society Pass
SoPa’s customer loyalty and analytics platform has onboarded hundreds of thousands of registered consumers. SoPa provides merchants with SoPa.asia – an online commerce platform for users, alongside with #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user’s profile analytics, and convenient financial support packages for small and medium-sized enterprises. All tools offered above will allow businesses to attract and retain customers through personalized interaction based on analytics with a high profit margin. SoPa also operates www.leflair.com, Vietnam’s leading lifestyle e-commerce platform. For more information, please check out: http://thesocietypass.com/

Forward Looking Statements
The information contained herein may contain “forward-looking statements.” Forward-looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of the Company concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

SoPa:
Raynauld Liang, CFO
ray@thesocietypass.com

Investor Relations Asia:
Daniel Tan
PRecious Communications
daniel@preciouscomms.com
+65 9651 5292

Society Pass, Vietnam’s leading data-driven loyalty platform, has closed its Series C round.
The new funds will be used to help drive Southeast Asia M&As including in Vietnam, Philippines and Indonesia.
Since its launch, Society Pass has amassed over 1.5 million registered users being served by over 3,500 registered merchants and brands

Society Pass (SoPa), Vietnam’s leading data-driven loyalty platform, has closed a Series C funding round. With the new funds, Society Pass will look to accelerate its growth and acquisition strategy in Southeast & South Asia, particularly acquiring companies with the existing user and merchant bases that can be quickly plugged into the Society Pass ecosystem.

Society Pass is a loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across its key markets. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points. It seamlessly connects consumers and merchants across multiple product and service categories fostering organic loyalty. From its launch in 2019, Society Pass has amassed over 1.5 million registered users and over 3,500 registered merchants and brands.

Dennis Nguyen, Founder, Chairman, and Chief Executive Officer Society Pass said: “Society Pass’s success up to this point has been built through offering unique value for both consumers and merchants, along with the infrastructure supporting that exchange. This new funding will allow us to replicate our success in our target markets and our ongoing aggressive M&A initiatives in the pipeline. We are very grateful to have found strong demand from quality investors, that share our vision.”

According to the Digital 2021 Global Overview Report (*) by HootSuite & We Are Social, Southeast Asia is sporting a 69% internet penetration rate with 9.6% YoY growth, and South Asia with a 42% internet penetration rate with 9.1% YoY growth. Both regions stand to see tremendous growth, with Google, Bain, and Temasek estimating Southeast Asia internet economy GMV reaching US$309 billion by 2025, while RedSeer Consulting estimates the South Asia internet economy to touch US$250 billion by 2025. e-Commerce and Online Travel are expected to take the lion’s share of this growth. Society Pass plans to expand its market presence by harnessing the untapped potential of South and Southeast Asia believing that developing countries are only now experiencing a surge in digital adoption, with large potentials for future growth.

Society Pass capitalises on the rapidly developing earlier stages of the internet economy in the region, spanning verticals such as F&B, beauty, travel and lifestyle.

(*) https://datareportal.com/reports/digital-2021-july-global-statshot

About Society Pass
Society Pass’ customer loyalty and analytics platform has onboarded hundreds of thousands of registered consumers. Society Pass provides merchants with SoPa.asia – an online commerce platform for users, alongside with #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user’s profile analytics, and convenient financial support packages for small and medium-sized enterprises. All tools offered above will allow businesses to attract and retain customers through personalized interaction based on analytics with a high profit margin. For more information, please check out: http://thesocietypass.com/.