SINGAPORE, Feb. 24, 2021
/PRNewswire/ -- Diginex Limited (Nasdaq: EQOS) ("Diginex" or the
"Company"), a digital assets financial services company, today
announced that it will redeem all of its outstanding public
warrants ("Public Warrants").
The Public Warrant proceeds will be used to drive Diginex's
growing product line and the ongoing investment into its digital
asset ecosystem, whilst accelerating its expansion plans.
There are currently 5.3 million Public Warrants outstanding
while 0.9 million, or 15%, of the warrants have already been
exercised to date. Each Public Warrant entitles the holder thereof
to purchase one-half of one ordinary share at a cash price of
$5.75 per Public Warrant exercised
(or one share of the Company for a cash price of $11.50, per two Public Warrants exercised)
The upcoming product launches include:
- Integrating borrowing and lending capabilities into its leading
digital asset custodian Digivault and cryptocurrency exchange
EQUOS;
- Increasing the derivative product set to include options and
dated futures, as well a wider range of coins, and twelve
additional fiat currencies, that will be made available to
customers who trade on EQUOS; and
- Launching the EQUOS Investment Products business, which will
include cryptocurrency based structured products and listed
investment products.
Richard Byworth, CEO of Diginex,
said, "With the exercise of our
Public Warrants, our balance sheet will be stronger allowing us to
be even more aggressive with our expansion plans.
With the current momentum we are seeing in crypto assets, wider
corporate interest and increasing retail participation, it is
important to be moving as fast as we can. This is a race, and we
are focused on winning it."
Diginex brings together a cryptocurrency exchange, trading
solutions, custody, borrowing & lending, asset management and
capital markets capabilities, and has been listed on Nasdaq since
October 2020.
Since listing, the Company has
achieved a number of key milestones, including:
- the January 2021 launch of its
Bitcoin Perpetual Futures contract
on EQUOS has already seen volumes as high as $25 million in a single day;
- a partnership with one of the world's leading crypto and crypto
derivative liquidity providers, GSR, which will become a strategic
shareholder as part of the terms of the partnership;
- the launch of Access, a multi-venue trading platform, in
collaboration with leading technology provider Itiviti, offering
the first full suite of Portfolio Management, Order Management and
Execution Management systems with a crypto product for
institutional investors; and
- an estimated net 35% 12-month rolling performance for its
market neutral crypto fund of Hedge Funds.
Redemption of Public Warrants
Diginex will redeem all of its outstanding public warrants to
purchase shares of the Company's ordinary shares, no par value (the
"Ordinary Shares"), that were issued under the Warrant Agreement,
dated March 27, 2019, by and between
the Company's predecessor company 8i Enterprises Acquisition Corp,
a British Virgin Islands company
("8i"), and VStock Transfer, LLC, as warrant agent and supplemented
by the Supplemental Warrant Agreement, dated September 30, 2020, by and between the Company
and VStock Transfer, LLC (the "Warrant Agreement"), as part of the
units sold in 8i's initial public offering ("IPO") and also issued
to holders of certain 8i promissory notes converted into warrants
in connection with the Company's business combination, each for a
redemption price of $0.01 per Public
Warrant (the "Redemption Price"), for Public Warrants that remain
outstanding at 5:00 p.m. New York City time on March 26, 2021 (the "Redemption Date").
Under the terms of the Warrant Agreement, the Company is
entitled to redeem all of the outstanding Public Warrants if the
last sales price of the Ordinary Shares is at least $16.50 per share for any 20 trading days within a
30-day trading period. This share price performance target was
achieved as of February 19, 2021.
At the direction of the Company, VStock Transfer LLC, in its
capacity as warrant agent, has delivered a notice of redemption to
each of the registered holders of the outstanding Public
Warrants.
All such Public Warrants may be exercised by the holders thereof
until 5:00 p.m. New York City time on the Redemption Date to
purchase fully paid and non-assessable shares of ordinary shares
underlying such warrants, at the exercise price of $11.50 per share. Any Public Warrants that remain
unexercised following 5:00 p.m.
New York City time on the
Redemption Date will be void and no longer exercisable, and the
holders of those Public Warrants will be entitled to receive only
the redemption price of $0.01 per
warrant.
The shares of Ordinary Shares stock underlying the Public
Warrants have been registered by the Company under the Securities
Act of 1933, as amended, and are covered by a registration
statement filed with, and declared effective by, the Securities and
Exchange Commission (Registration No. 333-249858).
Questions concerning redemption and exercise of the Public
Warrants can be directed to VStock Transfer LLC, 18 Lafayette
Place, Woodmere, New York 11598,
telephone number (212) 828-8436.For a copy of the notice of
redemption sent to the holders of our Public Warrants and a
prospectus relating to the shares of Ordinary Shares issuable upon
exercise of the Public Warrants, please visit our investor
relations website at ir.diginex.com/.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any offer of any
of Diginex's securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
Forward-Looking Statements
This press release includes forward looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. For example, forward
looking statements in this press release relate the completion of
the private placement, the satisfaction of customary closing
conditions related to the private placement and the intended use of
net proceeds from the private placement. Such forward-looking
statements are subject to risks and uncertainties, which could
cause actual results or outcomes to differ materially from the
forward-looking statements. Most of these factors are outside of
Diginex's control and are difficult to predict. Factors that may
cause such differences include, but are not limited to: the ability
to recognize the anticipated benefits of the business combination;
the ability of Diginex to grow and manage growth profitably;
Diginex's limited operating history and history of net losses;
Diginex's ability to execute its business plan; the inability to
maintain the listing of Diginex's shares on Nasdaq; Diginex's
estimates of the size of the markets for its products; the rate and
degree of market acceptance of Diginex's products; Diginex's
ability to identify and integrate acquisitions; potential
litigation involving Diginex or the validity or enforceability of
Diginex's intellectual property; general economic and market
conditions impacting demand for Diginex's products and services;
and such other risks and uncertainties indicated in Diginex's Shell
Company Report on Form 20-F, including those under "Risk Factors"
therein, and in Diginex's other filings with the SEC, which are
available on the SEC's website at www.sec.gov.
In addition, any forward-looking statements contained in this
press release are based on assumptions that Diginex believes to be
reasonable as of this date. Diginex undertakes no obligation to
update any forward-looking statements to reflect events or
circumstances after the date of this press release or to reflect
new information or the occurrence of unanticipated events, except
as required by law.
Contact Information
Press Contact:
Heather Dale
heather.dale@diginex.com
Investor Relations Contacts:
Ross Dunwoody or Christian Arnell
ir@diginex.com
Gateway Investor Relations:
Matt Glover or Charlie Schumacher
Diginex@gatewayir.com
About Diginex Corporation
Diginex is a digital assets financial services company focused
on delivering a cryptocurrency and digital assets ecosystem
offering innovative product and services that are compliant, fair
and trusted. The group encompasses cryptocurrency exchange EQUOS.io
as well as an over-the-counter trading platform. It also offers a
front-to-back integrated trading platform, Diginex Access, a
securitization advisory service, Diginex Capital, market leading
hot and cold custodian Digivault and funds business Bletchley Park
Asset Management.
For more information visit: https://www.diginex.com/
Follow Diginex on social media on Twitter @DiginexGlobal, on
Facebook @DiginexGlobal, and on LinkedIn.
Follow EQUOS.io on social media on Twitter @EQUOS_io and on
LinkedIn.
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SOURCE Diginex Limited