Orangekloud Invests S$1M in Evvo Labs for 3.23% Stake
Ticker: ORKT · Form: 6-K · Filed: Oct 18, 2024 · CIK: 1979407
Sentiment: neutral
Topics: investment, strategic-partnership, private-company
TL;DR
Orangekloud just dropped S$1M for a 3.23% stake in Evvo Labs. Big move?
AI Summary
On October 16, 2024, Orangekloud Technology Inc. entered into a Subscription Agreement with Evvo Labs Pte. Ltd. to invest S$1,000,000 (approximately $761,000). This investment will grant Orangekloud Technology Inc. a 3.23% shareholding stake in Evvo Labs.
Why It Matters
This strategic investment allows Orangekloud Technology Inc. to gain a foothold in Evvo Labs, potentially leveraging their technology and expanding its market presence.
Risk Assessment
Risk Level: medium — The investment is in a private company, and the long-term success and integration of Evvo Labs' technology are not yet proven.
Key Numbers
- S$1,000,000 — Investment Amount (Amount Orangekloud Technology Inc. is investing in Evvo Labs.)
- 3.23% — Shareholding Stake (Percentage of Evvo Labs Orangekloud Technology Inc. will own after the investment.)
Key Players & Entities
- Orangekloud Technology Inc. (company) — Filer and investor
- Evvo Labs Pte. Ltd. (company) — Investee company
- S$1,000,000 (dollar_amount) — Investment amount
- $761,000 (dollar_amount) — Approximate USD equivalent of investment
- October 16, 2024 (date) — Date of agreement
- 3.23% (percentage) — Shareholding stake acquired
FAQ
What is the primary business of Evvo Labs Pte. Ltd. that Orangekloud Technology Inc. aims to leverage?
The filing states that the investment is to 'enable the Company to leverage Evvo Lab&rsq', but the specific nature of Evvo Labs' business is not detailed in this excerpt.
What are the terms of the Subscription Agreement beyond the investment amount and stake?
This excerpt of the filing only details the investment amount and the resulting shareholding; other terms of the Subscription Agreement are not provided.
Is this investment part of a larger strategic initiative by Orangekloud Technology Inc.?
The filing does not provide information on whether this investment is part of a broader strategic initiative.
What is the financial health or valuation of Evvo Labs Pte. Ltd. prior to this investment?
The filing does not disclose the financial health or valuation of Evvo Labs Pte. Ltd.
Are there any board representation rights or other control provisions associated with this 3.23% stake?
The provided text does not specify any board representation rights or other control provisions for Orangekloud Technology Inc. as part of this investment.
Filing Stats: 268 words · 1 min read · ~1 pages · Grade level 11.7 · Accepted 2024-10-18 09:00:03
Key Financial Figures
- $1,000,000 — t to which the Company agree to invest S$1,000,000 (approximately $761,000) for a 3.23% sh
- $761,000 — ee to invest S$1,000,000 (approximately $761,000) for a 3.23% shareholding stake in Evvo
Filing Documents
- form6-k.htm (6-K) — 18KB
- ex99-1.htm (EX-99.1) — 16KB
- 0001493152-24-041506.txt ( ) — 35KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Orangekloud Technology Inc. Date: October 18, 2024 By: /s/ Goh Kian Hwa Name: Goh Kian Hwa Title: Chief Executive Officer 3