StoneBridge Acquisition announced that, as of March 4, the trust value was $25,464,920.35 and the approximate price per share was $11.50.
The SPAC raised $200 million in a July 2021 IPO.
StoneBridge shareholders in December voted in favor of combining with DigiAsia Bios Pte. Ltd. The Indonesia-based acquisition is an embeddable “Fintech-as-a-Service” company.
DigiAsia at deal announcement in January 2023 was expected to receive the approximately $200 million in the SPAC’s trust at that time, however, redemptions left StoneBridge with about $26.5 million going into the merger vote three months ago.
The SPAC has until April 30 to close the DigiAsia deal.
Existing DigiAsia shareholders, which include Mastercard and Reliance Capital Management, a portfolio company of LeapFrog Investments, will roll 100% of their equity into the combined company.
DigiAsia has also secured a partnership with DBS Bank Ltd, the largest bank in Singapore and Southeast Asia, to disburse loans into DigiAsia’s lending marketplace for merchants via its KreditPro platform.
Founded in Jakarta in 2017, DigiAsia says it is a leader in embedded fintech and banking in Indonesia. Read more.
