Society Pass Incorporated (NASDAQ: SOPA) received an early release from its six‑month lock‑up agreement on NusaTrip shares, effective January 15 2026. The waiver was granted by Cathay Securities, the sole underwriter of NusaTrip’s August 2025 IPO, and was announced on January 18 2026, allowing SOPA to sell, pledge or otherwise dispose of its NusaTrip holdings earlier than the original lock‑up period would permit.
NusaTrip completed its IPO on August 2025 at $4.00 per share, raising $15 million in gross proceeds. SOPA holds a significant stake in the travel‑technology company, and the early liquidity from the waiver provides a new source of capital that was previously unavailable until the lock‑up expiration.
Society Pass has posted net losses of $10.2 million in 2024 and $18.1 million in 2023, and had raised concerns about its going‑concern status. The company regained compliance with Nasdaq’s continued listing requirements in September 2025, but the early sale of NusaTrip shares offers a tangible means to address remaining liquidity pressures and support ongoing operations.
The waiver gives SOPA strategic flexibility: it can time the sale of its NusaTrip stake to capture favorable market conditions, use the proceeds to fund expansion initiatives, or monetize the investment before a potential spin‑off of NusaTrip and Thoughtful Media Group into separate public companies. This flexibility is particularly valuable given the company’s history of incubating fast‑growing technology firms in Southeast Asia.
CEO Raynauld Liang has emphasized that the NusaTrip IPO validates SOPA’s model of incubating high‑growth tech companies. The early lock‑up release aligns with SOPA’s broader strategy to unlock shareholder value and strengthen its balance sheet.
The early access to NusaTrip shares is a material corporate event that could reshape Society Pass’s capital structure and influence its future strategic decisions.
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