Starbox Group Enters Software Purchase Agreement

TL;DR

Starbox Group buys software from Tech Fellows Limited on Nov 18, 2024.

AI Summary

On November 18, 2024, Starbox Group Holdings Ltd. announced it entered into a software purchase agreement with Tech Fellows Limited. The agreement involves its indirect wholly owned subsidiary, Irace Technology Limited, as the purchaser.

Why It Matters

This agreement signifies a strategic move by Starbox Group to acquire software, potentially enhancing its technological capabilities or service offerings.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a standard business agreement without immediate financial implications or significant changes in operations.

Key Players & Entities

• Starbox Group Holdings Ltd. (company) — Issuer
• Tech Fellows Limited (company) — Seller in Software Purchase Agreement
• Irace Technology Limited (company) — Purchaser in Software Purchase Agreement
• November 18, 2024 (date) — Date of Software Purchase Agreement

FAQ

Key Financial Figures

• $1.50 — A ordinary shares (per share price of US$1.50) of the Company with an aggregate value
• $9,000,000 — he Company with an aggregate value of US$9,000,000 (the “Consideration Shares”

Filing Documents

• form6-k.htm (6-K) — 22KB
• ex10-1.htm (EX-10.1) — 280KB
• ex10-2.htm (EX-10.2) — 140KB
• ex10-3.htm (EX-10.3) — 26KB
• ex10-1_001.jpg (GRAPHIC) — 1KB
• ex10-2_001.jpg (GRAPHIC) — 1KB
• 0001493152-24-046513.txt ( ) — 471KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of November 2024 Commission File Number: 001-41480 Starbox Group Holdings Ltd. VO2-03-07, Velocity Office 2, Lingkaran SV, Sunway Velocity, 55100 Kuala Lumpur, Malaysia (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F Entry into Software Purchase Agreement with Tech Fellows Limited On November 18, 2024, Starbox Group Holdings Ltd., a Cayman Islands company (the “Company”), as the issuer, and its indirect wholly owned subsidiary, Irace Technology Limited, a British Virgin Islands company (“Irace Technology”), as the purchaser, entered into a software purchase agreement (the “Software Purchase Agreement”) with Tech Fellows Limited, a company incorporated in Seychelles (the “Seller”), as the seller, with respect to a certain Web Graphics Library Augmented 3D Framework Module and related assets, as described more particularly therein (the “Software”). Pursuant to the Software Purchase Agreement, Irace Technology agreed to acquire from the Seller all of the rights, title, and interests in the Software for consideration of an aggregate of 6,000,000 Class A ordinary shares (per share price of US$1.50) of the Company with an aggregate value of US$9,000,000 (the “Consideration Shares”). In connection with the Software Purchase Agreement, on November 18, 2024, the Seller and four assignees (the “Assignees”) entered into a deed of assignment (the “Deed of Assignment”) with respect to the assignment of the Seller’s right to receive the Consideration Shares, and the Seller delivered to the Company and Irace Technology a notice of assignment (the “Notice of Assignment”) (the “Assignment”). Pursuant to the Software Purchase Agreement and the Assignment, the Consideration Shares will be issued to the Assignees on a closing date as may be agreed upon among the Company, Irace Technology, and the Seller, subject to the satisfaction by the Seller of its obligations under the Software Purchase Agreement. The foregoing descriptions of the Software Purchase Agreement, the Deed of Assignment, and the Notice of Assignment do not purport to be complete and are qualified in their entirety by reference to the full text of each the Software Purchase Agreement, the Deed of Assignment, and the Notice of Assignment, which are filed as Exhibits 10.1, 10.2, and 10.3, respectively, to this Form 6-K. The Software Purchase Agreement and the transactions contemplated thereby were approved and authorized by the board of directors of the Company on November 18, 2024. This Form 6-K is hereby incorporated by reference into the registration statement on Form F-3 of the Company (File No. 333-274484), as amended, the registration statements on Form F-3 of the Company (File No. 333-278571), the registration statement on Form F-3 of the Company (File No. 333-280850), and the registration statement on Form F-3 of the Company (File No. 333-281748), and into the base prospectus and the prospectus supplement outstanding under each of the foregoing registration statements, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. Exhibit Index Exhibit No. Description 10.1 Software Purchase Agreement, among Starbox Group Holdings Ltd., Irace Technology Limited, and Tech Fellows Limited, dated November 18, 2024 10.2 Deed of Assignment, between Tech Fellows Limited and the person listed in Schedule 1 therein, dated November 18, 2024 10.3 Notice of Assignment, delivered by Tech Fellows Limited to Starbox Group Holdings Ltd. and Irace Technology Limited, dated November 18, 2024 SIGNATURE 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: November 18, 2024 By: /s/ Lee Choon Wooi Name: Lee Choon Wooi Title: Chief Executive Officer

View Full Filing

View this 6-K filing on SEC EDGAR