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Starbox Group | 6-K: Entry into Software Purchase Agreement with Bella Bambina Limited

SEC announcement ·  May 6 20:33
Summary by Futu AI
On May 3, 2024, Starbox Group Holdings Ltd., a Cayman Islands-based company, and its subsidiary, Irace Technology Limited, entered into a software purchase agreement with Bella Bambina Limited. The agreement involves the acquisition of shopping rebate and loyalty software, known as the Loyalty Engine Software, by Irace Technology. The transaction is valued at US$4,300,000, to be paid through the issuance of 21,500,000 ordinary shares of Starbox Group at US$0.20 per share. Additionally, a deed of assignment was executed between the Seller and four assignees, transferring the right to receive the Consideration Shares. The closing date for the issuance of shares will be determined upon the fulfillment of the Seller's obligations under the agreement. The board of directors of Starbox Group approved the transaction on the same day. The details of the agreement are included in the Form 6-K filed with the SEC, which is also incorporated by reference into the Company's registration statement on Form F-3 and related prospectuses.
On May 3, 2024, Starbox Group Holdings Ltd., a Cayman Islands-based company, and its subsidiary, Irace Technology Limited, entered into a software purchase agreement with Bella Bambina Limited. The agreement involves the acquisition of shopping rebate and loyalty software, known as the Loyalty Engine Software, by Irace Technology. The transaction is valued at US$4,300,000, to be paid through the issuance of 21,500,000 ordinary shares of Starbox Group at US$0.20 per share. Additionally, a deed of assignment was executed between the Seller and four assignees, transferring the right to receive the Consideration Shares. The closing date for the issuance of shares will be determined upon the fulfillment of the Seller's obligations under the agreement. The board of directors of Starbox Group approved the transaction on the same day. The details of the agreement are included in the Form 6-K filed with the SEC, which is also incorporated by reference into the Company's registration statement on Form F-3 and related prospectuses.
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