Starbox Group Acquires Rainbow Worldwide
Ticker: STBXF · Form: 6-K · Filed: Apr 19, 2024 · CIK: 1914818
| Field | Detail |
|---|---|
| Company | Starbox Group Holdings Ltd. (STBXF) |
| Form Type | 6-K |
| Filed Date | Apr 19, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.25, $4,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, share-issuance
TL;DR
Starbox just bought Rainbow Worldwide, deal closed April 19th.
AI Summary
On April 19, 2024, Starbox Group Holdings Ltd. completed a share issuance and acquired 100% of Rainbow Worldwide Co., Ltd. for an undisclosed amount. This acquisition was made pursuant to a share sale agreement dated April 4, 2024.
Why It Matters
This acquisition could expand Starbox Group's market reach and service offerings, potentially impacting its future revenue and growth trajectory.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, valuation, and market reception, which could impact the company's performance.
Key Players & Entities
- Starbox Group Holdings Ltd. (company) — Filer and acquirer
- Rainbow Worldwide Co., Ltd (company) — Acquired entity
- April 19, 2024 (date) — Closing date of share issuance and acquisition
- April 4, 2024 (date) — Date of the share sale agreement
FAQ
What was the total consideration paid for the acquisition of Rainbow Worldwide Co., Ltd?
The filing does not specify the dollar amount or consideration paid for the acquisition of Rainbow Worldwide Co., Ltd.
What is the primary business of Rainbow Worldwide Co., Ltd?
The filing does not provide details on the specific business operations of Rainbow Worldwide Co., Ltd.
What is the significance of the share issuance mentioned in the filing?
The filing states that a share issuance was completed on April 19, 2024, in conjunction with the acquisition, but does not detail its purpose or impact.
Where is Starbox Group Holdings Ltd. headquartered?
Starbox Group Holdings Ltd. is headquartered in Kuala Lumpur, Malaysia.
Under which SEC act is this Form 6-K filed?
This Form 6-K is filed pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.
Filing Stats: 448 words · 2 min read · ~1 pages · Grade level 13.8 · Accepted 2024-04-19 16:10:09
Key Financial Figures
- $0.25 — 0 ordinary shares (per share price of US$0.25), with an aggregate value of US$4,500,0
- $4,500,000 — US$0.25), with an aggregate value of US$4,500,000 as consideration for 100% of the issued
Filing Documents
- form6-k.htm (6-K) — 16KB
- 0001493152-24-015339.txt ( ) — 17KB
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. Starbox Group Holdings Ltd. Date: April 19, 2024 By: /s/ Lee Choon Wooi Name: Lee Choon Wooi Title: Chief Executive Officer