StoneBridge Acquisition Announces Trust Update as it Works to Close DigiAsia Deal

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 .

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 , 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 in Indonesia. Read more.


Source: StoneBridge Acquisition Announces Trust Update as it Works to Close DigiAsia Deal