IR Contact:Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email: email@example.com
New York, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Longfin Corp. ("Longfin" or the "Company") (NASDAQ: LFIN) a leading global FinTech company, has announced that the Company has entered into a securities purchase agreement with a multibillion dollar fund. The institutional investor is investing $52,700,000 through convertible note instruments (the "Notes"). Joseph Gunnar & Co., member FINRA/SIPC is the placement agent. Key Transaction Details The Notes consist of (i) Series A Senior Convertible Notes in the aggregate principal amount of $13,307,705.88 and (ii) Series B Senior Secured Convertible Notes in the aggregate principal amount of $39,392,294.12 for consideration. The nature of the investment will involve (i) an upfront cash payment in the amount of $8,000,000, and (ii) secured promissory notes payable by the investors to the Company in the aggregate principal amount of $38,376,000 (referred to above as the "Investor Notes"). Under the Investor Notes, the Investors are required to prepay the Investor Notes to the Company in two equal installments following the registration of the shares underlying the Notes and Warrants. Longfin is one of the few players in global FinTech space in Alternative Finance and Shadow Banking a $72 trillion industry worldwide. "To secure funding from this large institutional investor at current market valuation will enhance the visibility and revenue growth of the company in a rapid way. We are confident in our goal of reaching a 250% revenue growth rate organically, and outnumbering our growth rate in 2017. This funding will also help Longfin in its acquisition endeavors within the Blockchain powered Smart Contracts and FinTech space across the globe," stated Venkat Meenavalli, Chairman of Longfin Corp. Safe Harbor Statement Certain information in this communicative statement contains "forward-looking statements" about the Company, as defined within the Private Securities Litigation Reform Act of 1995 or under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, "forward-looking statements"); these may not be based on historical fact, but instead relate to future events. Forward-looking statements are generally identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. Such forward-looking statements include, without limitation, statements regarding new and existing services, technologies and opportunities, statements regarding market and industry segment growth and demand and acceptance of new and existing services, any projections of sales, earnings, revenue, margins or other financial items, any statements of the plans, strategies and objectives of management for future operations, any statements regarding future economic conditions, regulatory environment or performance, any statements of belief or intention, and any statements or assumptions underlying any of the foregoing. Risk factors and other material information concerning the Company are described in the Registration statement post qualification Offering Circular (Amendment No. 9) filed with the SEC on November 3, 2017 and other Company filings, including subsequent current and periodic reports, information statements and registration statements filed with the SEC. You are cautioned to review such reports and other filings at www.sec.gov . Given these risks, uncertainties and factors, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on the Company's current expectations and does not undertake an obligation to revise or update such forward-looking statements and information to reflect subsequent events or circumstances, except as required by law. About Longfin Corp. Longfin ("LFIN") is a US-based, global FinTech company powered by Artificial Intelligence (AI) and Machine Learning. The company, through its wholly-owned subsidiary, Stampede Tradex Pte. Ltd, delivers foreign exchange and finance solutions to importers/exporters and SMEs. Longfin also provides cryptocurrency-based financial service for importers/exporters with Ziddu coins from its blockchain-empowered subsidiary Ziddu.com. Currently, Longfin has operations in London, Singapore, Dubai, New York, Miami and India.