Starbox Group Completes Share Issuance and Virtual Events Software Acquisition
Ticker: STBXF · Form: 6-K · Filed: Jul 18, 2024 · CIK: 1914818
| Field | Detail |
|---|---|
| Company | Starbox Group Holdings Ltd. (STBXF) |
| Form Type | 6-K |
| Filed Date | Jul 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.20, $6,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, share-issuance, software
TL;DR
Starbox Group just bought Virtual Events Software and did a share issuance on July 18th. Big move into virtual events!
AI Summary
On July 18, 2024, Starbox Group Holdings Ltd. completed a share issuance and acquired Virtual Events Software through its subsidiary Irace Technology Limited, pursuant to a Software Purchase Agreement dated July 2, 2024. The company is incorporated in the Cayman Islands and its principal executive office is located in Kuala Lumpur, Malaysia.
Why It Matters
This acquisition and share issuance could signal Starbox Group's strategic expansion into virtual event technology, potentially impacting its market position and future revenue streams.
Risk Assessment
Risk Level: medium — The filing details a share issuance and acquisition, which can introduce financial and operational risks depending on the terms and integration success.
Key Players & Entities
- Starbox Group Holdings Ltd. (company) — Filer and acquirer
- Irace Technology Limited (company) — Indirect wholly-owned subsidiary involved in the acquisition
- July 18, 2024 (date) — Date of share issuance and acquisition closing
- July 2, 2024 (date) — Date of the Software Purchase Agreement
- Virtual Events Software (product) — Asset acquired by Starbox Group
FAQ
What was the total value of the share issuance?
The filing does not specify the total dollar amount of the share issuance.
What are the key terms of the Software Purchase Agreement dated July 2, 2024?
The filing mentions the agreement but does not detail its specific terms beyond the acquisition of Virtual Events Software.
What is the business purpose of acquiring Virtual Events Software?
The filing does not explicitly state the business purpose, but the name suggests expansion into the virtual events market.
What is the SIC code for Starbox Group Holdings Ltd.?
The Standard Industrial Classification (SIC) code for Starbox Group Holdings Ltd. is 7310, Services-Advertising.
Where is Starbox Group Holdings Ltd.'s principal executive office located?
Starbox Group Holdings Ltd.'s principal executive office is located at VO2-03-07, Velocity Office 2, Lingkaran SV, Sunway Velocity, 55100 Kuala Lumpur, Malaysia.
Filing Stats: 542 words · 2 min read · ~2 pages · Grade level 14.4 · Accepted 2024-07-18 16:05:08
Key Financial Figures
- $0.20 — A ordinary shares (per share price of US$0.20), with an aggregate value of US$6,500,0
- $6,500,000 — US$0.20), with an aggregate value of US$6,500,000 as consideration for all of the rights,
Filing Documents
- form6-k.htm (6-K) — 18KB
- 0001493152-24-028328.txt ( ) — 19KB
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: July 18, 2024 By: /s/ Lee Choon Wooi Name: Lee Choon Wooi Title: Chief Executive Officer