Case study: Diginex merger with 8i Enterprises: Proven success in lasting relationships.

Background

Founded in 2017, Diginex is a rapidly growing digital financial services and blockchain solutions company headquartered in Hong Kong with a global presence.

Advising

Chardan, as M&A advisor, advised on Diginex’s listing, structure and regulatory elements. Diginex’s EQUOS is the first crypto exchange with a parent listed on a US stock exchange. Diginex raised more than $20 million in a convertible note, upsized from an initial target of $15 million. Diginex and current management exchanged 100% of their holdings for shares of 8i Enterprises (Nasdaq: JFK).

SPAC M&A

Chardan crafted and supported key communication between investors and 8i Enterprises and Diginex throughout the SPAC M&A process. 8i Enterprises listed its IPO in March 2019. The merger was announced in July 2019 and closed in September 2020 with a transaction value of $317M. Pro-forma ownership: Diginex: 79%, JFK Public Shareholder: 9%, JFK Sponsors: 6%, Others: 6%.

* On October 13, 2021, the name of the Company was officially changed to EQONEX Limited, following shareholder approval at the Company’s Annual General Meeting held on September 29, 2021.

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