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HTFL’s Client Starbox Group Holdings Ltd. Successfully Closed its Initial Public Offering of $21.5 Million

August 25, 2022

Ying Li

Lisa Forcht

Starbox Group Holdings Ltd. (STBX) (the “Company” or “Starbox Group”), a service provider of cash rebates, digital advertising, and payment solutions, announced the closing of its initial public offering (the “Offering”) of 5,375,000 ordinary shares at a public offering price of US$4.00 per ordinary share, including 375,000 ordinary shares issued pursuant to the partial exercise of the underwriters’ over-allotment option. The ordinary shares began trading on the Nasdaq Capital Market on August 23, 2022 under the ticker symbol “STBX.”

The Company received aggregate gross proceeds of US$21.5 million from the Offering, before deducting underwriting discounts and other related expenses.

Network 1 Financial Securities, Inc. acted as the underwriter and book-running manager for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Company. Hunter Taubman Fischer & Li LLC is a boutique law firm specializing in corporate, commercial and securities transactions, cross-border financing, immigration and taxation. Our team of lawyers works together so our clients can benefit from astute business experience and sophisticated legal solutions.