~ Prompt Extinguishment of Debt Following Recent Listing as a Public Company Prioritizes Financial Responsibility with a Healthy Capital Structure ~

NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- DigiAsia Corp. (NASDAQ: FAAS) (“DigiAsia” or the “Company”), a leading Fintech as a Service (“FaaS”) ecosystem provider, today announced it has received net proceeds of $3.0 million as a result of the previously announced Securities Purchase Agreement (“SPA”) with Helena Special Opportunities LLC, an affiliate of Helena Partners Inc. (“Helena”). In addition, through the issuance of Senior Unsecured Convertible Notes (the “Notes”), convertible into Class A common shares of the Company, and $5.2 million of Class B Convertible Notes, DigiAsia has extinguished all debt inherited from its business combination with StoneBridge Acquisition Corporation. The remainder of proceeds will be utilized for general corporate purposes as growth capital investment.

As announced on June 21, 2024, the Notes bear interest at a rate of 12% per annum, payable quarterly, and mature one year from the issuance of the note. Helena, pursuant to its note, has the option, on or prior to the maturity date, to convert the entire principal amount and all accrued but unpaid interest on the notes into shares of DigiAsia common stock.

EF Hutton LLC acted as the exclusive placement agent for the offering. Winston & Strawn LLP acted as legal advisor to DigiAsia.

Forward-Looking Statements:

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning DigiAsia and the Company’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. DigiAsia cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world including those discussed in DigiAsia’s Form 20-F under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and DigiAsia specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

DigiAsia Company Contact:

Subir Lohani

Chief Financial Officer and Chief Strategy Officer

646-480-0142

Investor Contact:

MZ North America

Email: FAAS@mzgroup.us