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SOS Ltd. Announces the Closing of a Private Placement

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QINGDAO, China, Sept. 1, 2020 /PRNewswire/ — SOS Limited (the "Company") (NYSE: SOS) today announced that it has closed a private placement with a small number of sophisticated non-U.S. investors on August 27, 2020, pursuant to which it has sold 53,580,020 units, with each unit consisting of one Class A ordinary share and a warrant to purchase one Class A ordinary share, at a price of $0.2162 per unit. This represents a price of $2.162 per ADS, which is approximately a 15% premium over the Company’s closing trading price on August 20, 2020.

The net proceeds from the private placement are approximately $11.6 million. A warrant to purchase one Class A ordinary share is included in each unit with an initial exercise price of $0.27 per Class A ordinary share, or $2.70 per ADS. The warrants are exercisable immediately upon issuance. Please refer to the Company’s Current Report on Form 6-K filed on August 27, 2020 for further details.

Chairman Yandai Wang commented, "It is gratifying to see that investors who both understand the size of the opportunity and potential of our company demonstrate their confidence in SOS through an equity investment in the company."

The Company intends to use the proceeds for working capital and to accelerate its plans for growth and operational investments.

About SOS Limited

SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company providing a wide range of services to its corporate and individual members, including marketing data, technology and solutions for emergency rescue services. SOS is focused on the research and development of big data, cloud computing, Internet of Things, blockchain and artificial intelligence. We have created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories, including basic cloud (medical rescue card, car rescue card, financial rescue card, mutual assistance rescue card), cooperative cloud (information rescue center, intelligent big data, intelligent software and hardware), and information cloud (News Today, E-Commerce Today). This system provide marketing-related data, technology solutions, and technology-driven big data to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers and other service providers in the emergency rescue services industry. SOS has obtained a national high-tech enterprise certification, the title of "big data star enterprise" awarded by Gui’an New District Government, and has registered 11 software copyrights and 2 patents. For more information, please visit: http://www.sosyun.com/

Forward-Looking Statements

Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties once the transaction is complete, and SOS’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2019. SOS’s SEC filings are available publicly on the SEC’s website at www.sec.gov. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.

Related Links :

http://www.sosyun.com

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Singaporean omnichannel e-tailer Iuiga to enhance user engagement and retention with Netcore Personalization

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– Iuiga is a leading direct-to-consumer Singapore homeware brand focusing on lifestyle products.

– Netcore to enable personalized omnichannel user experience across multiple channels and platforms for Iuiga

– Netcore’s AI-powered platform has already powered GoBear, Hermo, Sendo, Hnam, and Mapan

SINGAPORE, Oct. 29, 2020 /PRNewswire/ — Leading customer engagement and retention platform Netcore today announced the onboarding of one of South East Asia’s largest omnichannel e-tailer Iuiga to enable personalized user experience across platforms and channels.

Launched in 2017, IUIGA is known for its direct-to-consumer affordable, minimalist lifestyle products ranging from home and kitchen to apparels and electronics. Iuiga will leverage Netcore’s platform to enable a dynamically optimized, AI-powered personalized experience.

Jaslyn Chan, Founding Member and Chief Growth Officer, IUIGA: "We saw the Netcore platform and were impressed by the capabilities. Their deep expertise in the industry with some marquee names instilled us with the confidence we needed. I believe their proprietary AI-based personalization platform will be instrumental for the enhanced user experience and engagement we envision for our customers."

Netcore’s AI-powered platform has been the customer engagement and retention platform of choice for some of the biggest brands across the globe including GoBear, Hermo, Sendo, Hnam mobile, and Mapan (GoJek).

Kalpit Jain, Group CEO, Netcore Solutions said, "Iuiga is one of the most loved brands in SEA. It stands for quality and enhanced customer experience which resonated with the core philosophy of Netcore. Iuiga is redefining omnichannel retail in the region and we are excited to help drive the customer engagement fueled growth for them through dynamic and personalized experiences through our platform."

Logo – https://mma.prnasia.com/media2/1176346/Netcore_Solutions_Logo.jpg?p=medium600

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Delta Capita: Reinventing Data Sourcing for Chinese Entities – Karbon 8

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LONDON, Oct. 29, 2020 /PRNewswire/ — Now is the time to Reinvent. As we continue to navigate through the transformational changes taking place globally companies can take the opportunity to make positive, innovative changes to how business is being conducted today that will lead to long term benefits for both your teams and clients.

Karbon 8 is the latest proprietary technology solutions Delta Capita has brought to market, reinventing how we source and access KYC data for China entities. Learn more on how Delta Capita can partner and work with you in “reinventing” your value chain. Let’s Reinvent.
Karbon 8 is the latest proprietary technology solutions Delta Capita has brought to market, reinventing how we source and access KYC data for China entities. Learn more on how Delta Capita can partner and work with you in “reinventing” your value chain. Let’s Reinvent.

Karbon 8 is the latest proprietary technology solutions Delta Capita has brought to market, reinventing how we source and access KYC data for China entities. Launched earlier this year, Karbon 8 provides a comprehensive and real time data source for all Chinese client information.

Reinvention is about making improvements to something by looking at it in a different or a new way. At Delta Capita we work with our financial services clients to recognise the possibilities available for reinventing their existing operating models and how they can deliver it in a new way. Partnering with our clients, we work together to reinvent their value chain and consider the ways value is added along the chain, both to the products and services they offer, and what Delta Capita can perform on their behalf.

Through Karbon 8 clients can implement a cost-efficient operating model by automating and mutualizing the KYC data collection for Chinese entities. Karbon 8 aggregates and conducts initial analysis and comparisons of the sourced data in Chinese and then translates it into English as the final step, minimising the number of data discounting needed to be conducted. The data is sourced in real time, directly from the data sources in minutes, regardless of where the KYC analyst is located.

Delta Capita is a global provider of managed services, technology solutions and consulting. Delta Capita have a unique combination of experience in Financial Services and technology innovation capability, supported by an eco-system of proprietary technology solutions. Headquartered in London with offices around the world, Delta Capita work with the world’s top financial institutions to help them comply with regulations, simplify operations, reduce costs, and innovate their business models.

Learn more by visiting our website on how Delta Capita can partner and work with you in reinventing your value chain. Let’s Reinvent.

Media Enquiries: 
Leeya Hendricks 
CMO Delta Capita 
+44 (0)20 3890 4803 
[email protected]

Photo – https://mma.prnasia.com/media2/1322073/karbon_8.jpg?p=medium600
Logo – https://mma.prnasia.com/media2/1322074/Delta_Capita_Logo.jpg?p=medium600

 

Related Links :

https://deltacapita.com

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Centrapay Partners with Verifone to Launch New NZ Payment Service

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  • Centrapay to be available throughout New Zealand
  • No more per-transaction merchant fees for contactless payments
  • Partnership enables businesses to engage at the point of sale

AUCKLAND, NEW ZEALAND, Oct. 29, 2020 /PRNewswire/ — Centrapay is partnering with Verifone to deliver a new contactless payment platform that removes the per transaction fee businesses in New Zealand typically pay.


Centrapay and Verifone have combined multiple technologies to allow traditional and new financial applications to work together. The technology is centred on personalising the merchant and consumer payment experience.

Consumers and merchants can now – in real time – process contactless NZD payments, Giftstation Gift cards, accept digital assets, redeem Grab One vouchers, provide product and service feedback, offset carbon, utilise loyalty programmes, send or participate in surveys, and use digital identity solutions. And it all happens with an app and a QR code on any enabled Verifone payment device.  

Leveraging Verifone’s payment APIs, applications will be deployed to retailers remotely so that they can easily enable these new payment options. These applications use QR codes and/or NFC to communicate with Centrapay-supported mobile wallets, such as the Sylo Smart Wallet. This allows merchants to take payment in a range of new digital assets, gift cards, loyalty points, vouchers or NZD. It also leverages existing point of sale system investments, without the need to replace hardware or carry out bespoke and costly upgrades.

"If a customer and the merchant have a Centrapay-powered QR code or application, the two can now interact and engage in richer and more meaningful ways. Now customers can not only pay securely and easily but they can also now access a range of on-device options like providing feedback on a service or product, or offsetting the carbon footprint of their purchase," says Jerome Faury, CEO of Centrapay.   

Pete Hansen, GM at Verifone NZ says that the company has around 50 percent market share of payment devices deployed in New Zealand. It is committed to leading innovation for its merchants and focused on collaborating with companies like Centrapay to provide more flexibility and enhanced payment experiences for merchants and consumers.

The partnership also lets product producers or retailers offer value-added services to customers like the ability to pay with GrabOne vouchers, www.carbonclick.com or use Yabble to earn rewards or support offsetting your carbon footprint. 

ENDS

About Centrapay

Centrapay is about empowering merchants and enabling them to better connect and serve consumers with personalised payment experiences. Centrapay has unique capability for brands and businesses to easily create, distribute and transact Digital; where consumers, brands and businesses can engage and transact directly with each other without a third party taking a disproportionate cut. Centrapay focuses on unlocking value for merchants, whilst increasing compliance, efficiency and experience.

About Verifone

Verifone is transforming everyday transactions into new and engaging opportunities for merchants and consumers. Powered by a growing footprint of more than 35 million devices in more than 150 countries, our people are trusted experts working with the world’s best-known retail brands, financial institutions and payment providers. Verifone is connecting more products to an integrated solutions platform to better meet the evolving needs of our clients and partners. Built on a 39-year history of uncompromised security, we are committed to consistently solving the most complex payment challenges. More information at www.verifone.com

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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