ARB IOT Group Limited Announces Exercise and Closing of Over-Allotment Option in Initial Public Offering

Kuala Lumpur, Malaysia, April 25, 2023 (GLOBE NEWSWIRE) — ARB IOT Group Limited (“ARB” or the “Company”) (NASDAQ:ARBB), a provider of complete solutions to clients for the integration of Internet of Things (“IoT”) systems and devices from designing to project deployment, announced today that it has completed the sale of an additional 187,500 ordinary shares at the public offering price of $4.00 per share, pursuant to the exercise by the underwriter of the over-allotment option, in full, granted to it in connection with the Company’s initial public offering. The Company expects to receive additional gross proceeds of approximately $750,000, before underwriting discounts and commissions.

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