Currenc Group Secures $1.5M Convertible Bridge Loan With 19.99% Exchange Cap
CURR has more than doubled off its 52-week low of $1.312 on light trading volume (0.2× avg).
Summary
Currenc Group obtained a $1.5 million secured convertible bridge loan from Apex Innovation Global, with conversion terms that could dilute existing shareholders and collateral requirements tied to the company's stock price.
Key Events · Financing and Capital Events · CURR
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$1.5M Convertible Bridge Loan
A $1.5 million secured convertible bridge loan with Apex Innovation Global Limited was entered into by Currenc Group on September 20, 2026, bearing 1% annual interest with an 18-month maturity or earlier upon completion of the Animoca Brands acquisition.
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Conversion Price Structure
The loan converts at the lower of $2.85 or 85% of the lowest price in any future fundraising of $1 million or more, with a $3.19 floor price and a 19.99% exchange cap on conversion shares.
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Collateral and Guarantee
The loan is secured by a first-ranking mortgage over 1 million ordinary shares held by Pine Mountain Holdings, requiring 166.67% collateral coverage, with a personal guarantee from Alexander King Ong Kong as backstop.
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Mandatory Prepayment Terms
The agreement requires prepayment of 20% of net proceeds from any future fundraising and 100% of net proceeds from any out-of-ordinary-course asset disposal.
Analysis · CURR · Trade & Services
A $1.5 million secured convertible bridge loan with Apex Innovation Global Limited was entered into by Currenc Group on September 20, 2026. The loan carries a 1% annual interest rate and matures in 18 months or upon completion of the proposed Animoca Brands acquisition, whichever comes first. The conversion price is set at the lower of $2.85 or 85% of the lowest price in any future fundraising of $1 million or more, with a $3.19 floor — a structure that could create meaningful dilution if the company raises capital at depressed prices. The loan is secured by a first-ranking mortgage over 1 million ordinary shares held by Pine Mountain Holdings, with a 166.67% collateral coverage requirement that could force additional share pledges if the stock price declines. A personal guarantee from Alexander King Ong Kong provides backstop protection. The mandatory prepayment clause requiring 20% of any future fundraising proceeds and 100% of asset disposal proceeds further constrains the company's financial flexibility. This financing comes just three days after Currenc and Animoca Brands mutually suspended merger negotiations, suggesting the company is securing bridge capital while the acquisition path remains uncertain.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CURR was trading at $3.01 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $338M. The 52-week trading range was $1.31 to $5.08. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.