Retail favorite Society Pass tumbles on stock-and-warrants offering

Society Pass

09/02/2022 12:35

** Shares of Southeast Asian e-commerce company  SOPA.O 
fall 32.5% to $3.16 premarket 
    ** SOPA prices offering of ~3.03 mln shares and accompanying
warrants to buy up to 3.03 mln shares  urn:newsml:reuters.com:*:nGNEcgZQ9g
    ** Each share is being sold together with one warrant at a
combined purchase price of $3.30; stock's last close was $4.68
    ** Co has ~19.18 mln shares outstanding worth ~$89.77 mln,
per Refinitiv data
    ** SOPA is the #4 most-watched stock on investor-focussed
social media Stocktwits.com, with message vols up ~440.6%
    ** According to Fidelity Research, stock was the
seventh-most ordered stock by retail investors on Tuesday, when
it surged ~42.7% on no apparent news
    ** About 1.7 mln shares of the Newport Coast,
California-based company have traded premarket, ~37.4% of their
30-DMA volume
    ** As of last close, stock down 55% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))