Dec. 19 at 8:43 PM
$SOPA 1. Does Ascendiant show up as an underwriter or capital markets counterparty in SOPA filings?
Yes. Ascendiant Capital Markets is explicitly named in SOPA’s prospectus supplements as the sales agent for the company’s at‑the‑market (“ATM”) program.
In SOPA’s Form 424B5 prospectus supplement (May 28, 2024), Society Pass discloses an At‑The‑Market Issuance Sales Agreement dated August 21, 2023, with Ascendiant Capital Markets, LLC (“ACM”), under which SOPA may offer and sell shares “from time to time through ACM, acting as sales agent.” A later Prospectus Supplement No. 2 dated February 14, 2025, again references the same Sales Agreement with ACM, for up to
$3,371,000 of common stock offered through Ascendiant as sales agent.
That’s a clear, formal capital markets role:
Ascendiant = Sales Agent for ATM issuance (effectively a broker/placement agent for SOPA’s stock).
This is economically and functionally similar to investment banking (capital raising), even if labeled “sales agent”
