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ARB IOT Group Limited Ordinary Shares (symbol: ARBB) is a dynamic company specializing in the provision of hardware and software solutions under the expansive umbrella of the Internet of Things (IoT). With a strong focus on meeting diverse customer demands, ARB IOT Group operates in four key business lines: IoT Smart Home and Buildings, IoT Smart Agriculture, IoT System Development, and IoT Gadget Distribution.
The company is renowned for delivering comprehensive, turnkey solutions that cover the entire project lifecycle. This includes design, installation, testing, pre-commissioning, and commissioning of various IoT systems and devices. ARB IOT Group also excels in integrating automated systems, with expertise in both wired and wireless installations, as well as mechatronic works.
Operating Segments
- Internet of Things (IoT): This segment is the core of ARB IOT Group's operations, generating the majority of its profits. It encompasses all activities related to the development and deployment of IoT solutions.
- Investment Holding and Others: This segment focuses on strategic investments and other operational areas that support the company's growth and expansion.
Recent Achievements and Projects
ARB IOT Group has made significant strides in its field, with numerous successful projects that highlight its capability and innovative approach. The company's recent endeavors demonstrate its commitment to advancing IoT technology and providing valuable solutions that enhance efficiency and connectivity in various sectors. These projects include smart home and building automation, precision agriculture systems, and custom IoT development for specialized applications.
Financial Condition and Partnerships
The financial health of ARB IOT Group is robust, supported by a steady stream of revenue from its IoT segment. The company has also forged strategic partnerships with key industry players, further strengthening its market position and enabling it to leverage new technologies and opportunities.
In summary, ARB IOT Group Limited is a pivotal player in the IoT industry, offering a range of solutions that cater to the growing needs of smart technologies. Its comprehensive approach to project delivery, coupled with a strong financial foundation and strategic partnerships, positions it well for continued success and innovation in the IoT landscape.
ARB IOT Group (NASDAQ: ARBB) has announced a strategic Memorandum of Understanding (MOU) between its subsidiary ARBIOT Sdn Bhd, ASUS, and ServerSphere to develop and promote global AI server solutions. The partnership combines ASUS's hardware expertise, ServerSphere's AI server capabilities, and ARBB's assembly and distribution network. The collaboration aims to deliver user-friendly, cost-effective AI server solutions with robust privacy features, offering an alternative to H100/200 solutions. ARBB will handle assembly, testing, customization, global sales, and after-sales support services.
On June 25, 2024, ARB IOT Group (NASDAQ: ARBB) received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement of $1.00 per share as per Nasdaq Listing Rule 5550(a)(2). The deficiency was identified after the company's shares traded below the required price for 31 consecutive business days from May 9 to June 24, 2024. ARB IOT Group now has a compliance period of 180 days, until December 23, 2024, to regain compliance. If the company's share price closes at or above $1.00 for 10 consecutive business days within this period, Nasdaq will confirm compliance. Failing this, the company may qualify for an additional 180-day grace period, subject to certain conditions. The notification does not affect ARBB's current listing, and the company is considering options, including a possible reverse stock split, to rectify the deficiency.
Kuala Lumpur, Malaysia, April 25, 2023 - ARB IOT Group Limited (NASDAQ: ARBB) has successfully completed the sale of an additional 187,500 ordinary shares at a public offering price of $4.00 per share, following the exercise of the underwriter's over-allotment option. The Company anticipates receiving approximately $750,000 in gross proceeds from this sale before deductions for underwriting fees.
Maxim Group LLC served as the sole bookrunner for this offering. The effective registration statement for the offering was filed with the SEC, with details available on their website.
ARB IOT Group is committed to providing comprehensive solutions for IoT systems, aiming to establish a significant presence in the ASEAN region.
ARB IOT Group Limited (NASDAQ: ARBB) has successfully closed its initial public offering (IPO) of 1,250,000 ordinary shares at an offering price of $4.00 per share, generating approximately $5.0 million in gross proceeds. The shares began trading on The Nasdaq Capital Market on April 5, 2023. The company has also granted underwriters a 45-day option to purchase an additional 187,500 shares for over-allotments. This IPO allows ARB to enhance its capacity to provide comprehensive IoT solutions in the ASEAN region, focusing on system integration and support services. The registration was effective on March 30, 2023, and further details can be found in the filed prospectus.
ARB IOT Group Limited (NASDAQ: ARBB) has announced the pricing of its initial public offering (IPO) of 1,250,000 ordinary shares at an offering price of $4.00 each, aiming for gross proceeds of $5.0 million. The IPO is set to close on April 10, 2023, subject to customary conditions, with shares expected to begin trading on the Nasdaq Capital Market on April 5, 2023.
A 45-day option has been granted to underwriters to purchase an additional 187,500 shares for over-allotments. Maxim Group LLC is the book-running manager for this offering.
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