DigiAsia Bios Pte Ltd signed a non-binding letter of intent to acquire StoneBridge Acquisition Corporation (NasdaqCM:APAC) for approximately $540 million in a reverse merger transaction on September 16, 2022. DigiAsia Bios Pte Ltd signed a binding business combination agreement to acquire StoneBridge Acquisition Corporation (NasdaqCM:APAC) in a reverse merger transaction on January 5, 2023. The Transaction values the combined company at a pre-money equity valuation of $500 million. Upon completion of the Transaction, the combined company will be named DigiAsia and will trade on The Nasdaq Stock Market under the ticker symbol ?FAAS?. All current shareholders of DigiAsia including Mastercard (NYSE:MA) and Reliance Capital Management (RCM) will roll over 100% of their equity. DigiAsia has also secured a partnership with DBS Bank Ltd and Southeast Asia, on Oct 31st, 2022, to disburse loans to DigiAsia?s lending marketplace via its KreditPro platform. The business combination agreement, which has been unanimously approved by the Board of Managers of DigiAsia and by the Board of Directors of APAC, is expected to close during the second quarter of 2023, subject to the approval of the shareholders of APAC and other customary closing conditions. As of June 22, 2023, parties to the Business Combination Agreement entered into Amendment No. 1 to the business combination Agreement (the "Amendment") pursuant to which the parties agreed to extend the termination Date (as defined in the Business Combination Agreement) from June 30, 2023, to December 29, 2023. The shareholders of StoneBridge approved the transaction on December 19, 2023. As of March 25, 2024, the transaction is expected to close by April 2024.

Michael J. Blankenship, Louis B. Savage, James Brown, Dean Hinderliter, Emily Barrera, Jonathan Bodle, John Niedzwiecki, Christine Olivo, Alexandra Santana and Ben Smolij of Winston & Strawn LLP is acting as legal advisor to StoneBridge Acquisition Corporation and Rajiv Khanna and Kelvin Kesse of Norton Rose Fulbright US LLP is acting as legal advisor to DigiAsia Bios Pte Ltd in this transaction. o3 Capital acted as financial advisor for DigiAsia. Sett & Lucas acted as financial advisor for StoneBridge and Morrow & Co., LLC acted as an information agent for StoneBridge and will receive a fee of $20000. Mark Zimkind of Continental Stock Transfer & Trust Company acted as transfer agent for StoneBridge. Dentons Rodyk & Davidson LLP acted as legal advisor for StoneBridge and Rajah & Tann for DigiAsia. J.V.B. Financial Group, LLC acted as financial advisor to StoneBridge and will receive a fee of $1,500,000. Laurel Hill Advisory Group, LLC acted as an information agent to StoneBridge and will receive a fee of $16,500.

DigiAsia Bios Pte Ltd completed the acquisition of StoneBridge Acquisition Corporation (NasdaqCM:APAC) in a reverse merger transaction on April 2, 2024.