Starbox Group Completes Share Issuance and Software Acquisition
Ticker: STBXF · Form: 6-K · Filed: May 21, 2024 · CIK: 1914818
| Field | Detail |
|---|---|
| Company | Starbox Group Holdings Ltd. (STBXF) |
| Form Type | 6-K |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.20, $4,300,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, share-issuance, software
TL;DR
Starbox Group just bought new software and issued shares, details to follow.
AI Summary
On May 21, 2024, Starbox Group Holdings Ltd. completed a share issuance and acquired the Loyalty Engine Software from an unnamed seller for an undisclosed amount, as per a Software Purchase Agreement dated May 3, 2024. The company is incorporated in the Cayman Islands and its principal executive office is located in Kuala Lumpur, Malaysia.
Why It Matters
This transaction indicates Starbox Group's strategic move to expand its technological capabilities, potentially enhancing its service offerings and market position.
Risk Assessment
Risk Level: medium — The filing is a Form 6-K, which typically reports material events but lacks the detailed financial disclosures of other forms, and the acquisition price is not specified.
Key Players & Entities
- Starbox Group Holdings Ltd. (company) — Registrant
- May 21, 2024 (date) — Completion date of share issuance and acquisition
- May 3, 2024 (date) — Date of Software Purchase Agreement
- Irace Technology Limited (company) — Indirect wholly-owned subsidiary of Starbox Group
FAQ
What was the total number of shares issued and the price per share in the Share Issuance?
The filing does not specify the number of shares issued or the price per share.
What is the purchase price for the Loyalty Engine Software?
The purchase price for the Loyalty Engine Software is not disclosed in this filing.
Who is the seller of the Loyalty Engine Software?
The filing states the acquisition was made pursuant to an agreement with an unnamed party, and does not identify the seller.
What are the specific functionalities or benefits of the acquired Loyalty Engine Software?
The filing does not provide details on the specific functionalities or benefits of the Loyalty Engine Software.
What is the business purpose or strategic rationale behind acquiring the Loyalty Engine Software?
The filing does not explicitly state the strategic rationale, but the acquisition of software typically aims to enhance technological capabilities or service offerings.
Filing Stats: 492 words · 2 min read · ~2 pages · Grade level 15 · Accepted 2024-05-21 16:10:31
Key Financial Figures
- $0.20 — 0 ordinary shares (per share price of US$0.20), with an aggregate value of US$4,300,0
- $4,300,000 — US$0.20), with an aggregate value of US$4,300,000 as consideration for all of the rights,
Filing Documents
- form6-k.htm (6-K) — 17KB
- 0001493152-24-020880.txt ( ) — 18KB
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: May 21, 2024 By: /s/ Lee Choon Wooi Name: Lee Choon Wooi Title: Chief Executive Officer