StoneBridge Acquisition Corporation was a special purpose acquisition company (SPAC) — a blank check company with no operations of its own. StoneBridge raised $200M in its July 2021 IPO and placed approximately $202M in trust while searching for a target to take public via merger. The company focused on Asia-Pacific technology and "new economy" sectors, including fintech, SaaS, and e-commerce. StoneBridge signed a Business Combination Agreement with DigiAsia Bios, a Singapore-based fintech company, in January 2023, and completed the merger in April 2024 after multiple deadline extensions, at which point StoneBridge was renamed DigiAsia Corp. The SPAC's business model centers on the "founder share" structure: the Sponsor received 5M Class B founder shares at nominal cost, representing roughly 20% of the post-IPO share count, which convert into Class A shares upon a completed deal — effectively free equity if a transaction closes. Public investors buy units at $10 each, with capital held in trust and the right to redeem at approximately $10 plus interest if they choose not to participate in the chosen deal. If no deal closes and the SPAC liquidates, public investors recover their trust capital while the Sponsor loses its investment.