Fintech
Press Release for Early Warning Report Regarding ARCpoint Inc. – Felix Mirando
Greenville, South Carolina–(Newsfile Corp. – October 24, 2022) – On October 21, 2022, ARCpoint Inc., formerly RSI International Systems Inc. (the “Issuer“) completed a series of business combination transactions with ARCpoint Group LLC (“ARCpoint Group“), ARCpoint Finance Corp. (“ARC Finco“), 1000151427 Ontario Inc., Felix Mirando, as a securityholder of ARCpoint Group, and the other securityholders of ARCpoint pursuant to the business combination agreement dated April 27, 2022, as amended, which resulted in the reverse takeover of the Issuer by the members of ARCpoint Group (the “Transaction“).
Pursuant to the Transaction, Mr. Mirando acquired 59,346 Class B Proportionate Voting Shares (“PVS“) in exchange for 59,346 Class A Common Units of ARCpoint Group at a deemed price of CAD$225 per PVS for an aggregate deemed price of CAD$13,352,850. Immediately following the Transaction, Mr. Mirando, in his capacity as a newly appointed director of the Issuer, received 20,000 options (“Options“) of the Issuer with each Option exercisable to acquire one (1) Class A Subordinate Voting Shares (“SVS“) of the Issuer a price of CAD$0.45 until October 21, 2027.
Through his family investment holding company, FHA Investments, LLC (“FHA“), Mr. Mirando also acquired control of and direction over 913,333 subscription receipts (“Subscription Receipts“) of ARC Finco at a price of $0.45 per Subscription Receipt for an aggregate purchase price of CAD$410,999.85 in a concurrent private placement to the Transaction that was completed on October 17, 2022, which were exchanged for 913,333 SVS and 456,666 warrants (“Warrants“) of the Issuer at the closing of the Transaction on October 21, 2022. Each Warrant is exercisable to acquire one (1) SVS of the Issuer at a price of CAD$0.675 until October 21, 2025.
Prior to the Transaction, Mr. Mirando did not own, control or have direction over any securities of the Issuer. In connection with the Transaction, Mr. Mirando acquired beneficial ownership, control of and direction over 59,346 PVS, 913,333 SVS, 456,666 Warrants and 20,000 Options of the Issuer (the “Acquired Securities“), representing 34.27% of the total issued and outstanding SVS of the Issuer on a non-diluted basis and 34.62% on a partially diluted basis (assuming all of the PVS are converted into SVS on a 500 to 1 basis pursuant to the terms of the Articles of the Issuer, and for the partial dilution calculation, assuming all of the Warrants and Options held by FHA and Mr. Mirando, respectively, are exercised in full).
Mr. Mirando acquired the Acquired Securities for investment purposes and may, depending on the market and other conditions, increase or decrease his beneficial ownership of securities of the Issuer, whether in the open market, by privately negotiated agreements or otherwise, subject to general market conditions and other available investment and business opportunities.
This press release is issued in connection with the filing of an early warning report by Mr. Mirando pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues. A copy of the early warning report filed by Mr. Mirando can be viewed at the Issuer’s SEDAR profile at www.sedar.com.
For more information, or to obtain a copy of the early warning report, please contact:
Felix Mirando
c/o ARCpoint Inc.
101 North Main St., Suite 301,
Greenville, South Carolina, USA 29601
[email protected]
Not for Dissemination in the United States or through U.S. Newswire Services
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141708
Fintech
Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Fintech
Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
Fintech
Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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