The stage is set for a symphony of innovation and purpose as the Futurist Showcase takes center stage August 18, at 7:15 p.m. This exclusive event, a convergence of luminaries, will spotlight two trailblazing enterprises — Global Cannabis Holdings (GCH) (https://globalcannabisholdings.lu) and Avi8ted Ventures (https://avi8tedthoughts.com). These visionary companies are poised to reshape industries and redefine societal progress, all against the backdrop of the exquisite Pierce School Penthouse, a residence synonymous with entrepreneurial spirit and forward-thinking excellence.
The visionary forces behind the Futurist Showcase are entrepreneurs Charlton Woodyard II, CEO of Avi8ted Ventures, and Brock Pierce, the President of the Bitcoin Foundation, whose remarkable journey spans technology, real estate, and social impact. Pierce’s commitment to pioneering change and igniting community empowerment finds a fitting home in the profound ambiance of the Pierce School Penthouse. “Brock Pierce is an inspiration to any builder with his ability to make change happen across the world in every industry he touches. We are incredibly grateful that he has opened his home to us for this amazing opportunity to present our mission to the world,” said David Luftglass, Chairman, Global Cannabis Holdings.
An assembly of Washington, D.C.’s foremost leaders, policy architects, artistic trailblazers, investors, educators, and catalysts for change will grace the gathering. Hosted at the largest penthouse in the city, The Pierce School Penthouse, this event creates an unparalleled platform for collaborative engagement, fostering the coalescence of ideas and collective growth. The Showcase’s compelling mission, empowering individuals to champion change in their communities, resonates profoundly in the context of this prestigious locale.
In an era where innovation and purpose dictate the trajectory of tomorrow, the Futurist Showcase stands as a beacon of transformative potential. From the heights of the Pierce School Penthouse, a space resonating with entrepreneurial verve, this event catalyzes more than dialogue; it ignites a movement.
About Avi8ted Ventures
Avi8ted Ventures is a dynamic and innovative force at the intersection of real estate, technology, and culture. More than a social network, Avi8ted Ventures operates as an experimental ecosystem where the physical and digital realms merge, fostering a sustainable impact ecosystem. By harnessing the collective power of real estate, technology, and culture, Avi8ted Ventures initiates a global movement of change, driving innovation, collaboration, and social progress. As a platform where ideas materialize, pioneers unite, and the future takes shape, Avi8ted Ventures empowers individuals, transitions humans to beings, and facilitates transformative journeys of lasting impact.
About Global Cannabis Holdings (GCH)
Global Cannabis Holdings (GCH) began in Uruguay as a pioneering force in the international cannabis sector. With a groundbreaking tokenized portfolio of cannabis companies, GCH is redefining the future of this rapidly growing industry. GCH has obtained ownership in 38 companies across 6 countries, all wrapped up into one entity, offering a diversified approach to investing in cannabis. The holdings include everything from a six square kilometer production project in Uruguay, to the top distributor in Brazil, and the largest extraction group in California. With a visionary, forward looking approach, GCH is poised to catalyze change on a global scale by embracing the remarkable possibilities of cannabis. GCH recently underwent its public launch in the Luxembourg market via the STOKR platform, the first registered Security Token Exchange in the European Union. For more info on the launch please check out www.stokr.io/global-cannabis-holdings
For media inquiries, interviews, and additional information, please contact: Avi8ted Ventures Charlton Woodyard II (202) 888-5326 Info@av8t.co
Synergy House Berhad, a cross-border e-commerce seller and furniture exporter of ready-to-assemble (RTA) home furniture, launched the prospectus for its initial public offering (IPO) today in conjunction with its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad.
Datuk Roslan Hj Tik, Executive Director, Head Group Investment Banking & Islamic Banking, Kenanga Investment Bank Berhad; Mr. Mok Juan Chek, Independent Non-Executive Chairman, Synergy House Berhad; Mr. Tan Eu Tah, Non-Independet Executive Director, Synergy House Berhad; and Mr. Teh Yee Luen, Non-Independent Executive Director, Synergy House Berhad [L-R]”>
Mr. Alvin Ooi Yet Ming, Acting Head of Corporate Finance, Kenanga Investment Bank Berhad; Datuk Roslan Hj Tik, Executive Director, Head Group Investment Banking & Islamic Banking, Kenanga Investment Bank Berhad; Mr. Mok Juan Chek, Independent Non-Executive Chairman, Synergy House Berhad; Mr. Tan Eu Tah, Non-Independet Executive Director, Synergy House Berhad; and Mr. Teh Yee Luen, Non-Independent Executive Director, Synergy House Berhad [L-R]
The IPO will raise RM34.4 million via the issuance of 130.0 million new shares at an IPO price of RM0.43 per share which is expected to support the Group’s future growth and expansion plans. The IPO proceeds raised will be used by the Group in the following manner:
– RM10.0 million or 29.07% for purchasing of inventories for the Group’s proposed e-commerce fulfilment centre in Muar, Johor and e-commerce fulfilment centres in overseas countries; – RM1.5 million or 4.36% to purchase racking system and forklifts for the Group’s proposed e-commerce fulfilment centre in Muar, Johor; – RM1.0 million or 2.91% for e-commerce advertisement and promotions; – RM10.0 million or 29.07% to repay borrowings; – RM7.7 million or 22.38% for working capital purposes; and – RM4.2 million or 12.21% for listing expenses.
Executive Director of Synergy House, Mr. Tan Eu Tah said, “Given that global demand for furniture e-commerce is expected to continue to grow, our IPO will enable us to fuel our future growth and expansion plans by tapping into the equity capital market for future fund raising. Our IPO will also provide us with the financial flexibility to pursue growth opportunities as and when they arise. The recognition gained through our listing status will also enhance our reputation in the marketing of our products and services, retention of employees, expansion of customer base as well as attract new employees.”
Executive Director of Synergy House, Mr. Teh Yee Luen said, “Leveraging on e-commerce has been another transforming experience for our Group as it has enabled us to have direct contact with end-consumers and thus enabling us to gather first-hand information and insights on consumer preferences that are valuable for product development. We intend to continue to grow our business-to-consumer (B2C) segment by utilising a portion of the IPO proceeds to purchase inventories for our B2C segment and by carrying out advertising and promotion initiatives on third-party e-commerce platforms. We also plan to grow our B2C sales through expanding to more e-commerce platforms in new markets.”
For the financial years ended 31 December (FY) 2019, FY 2020, FY 2021 and FY 2022, the Group registered revenue of RM111.5 million, RM122.9 million, RM184.3 million and RM194.1 million respectively. In particular, the Group have seen encouraging growth from its B2C segment whereby its B2C sales have increased from RM1.99 million in the FY 2019 to RM49.63 million in FY 2022 at a compound annual growth rate of 192.17%.
Kenanga Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.
Synergy House Berhad will list on the ACE Market of Bursa Malaysia on 1st of June 2023.
Synergy House Bhd: https://www.synergyhouseberhad.com/
SYNERGY HOUSE BERHAD, a cross-border e-commerce seller and furniture exporter of ready-to-assemble (RTA) home furniture, has entered into an underwriting agreement with Kenanga Investment Bank Berhad (Kenanga IB) for the Group’s upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
Group Investment Banking and Islamic Banking of Kenanga Investment Bank Berhad Datuk Roslan Hj Tik, and Acting Head of Corporate Finance of Kenanga Investment Bank Berhad Alvin Ooi [L-R]”>
Executive Director of Synergy House Berhad Teh Yee Luen and Tan Eu Tah; Executive Director, Head of Group Investment Banking and Islamic Banking of Kenanga Investment Bank Berhad Datuk Roslan Hj Tik, and Acting Head of Corporate Finance of Kenanga Investment Bank Berhad Alvin Ooi [L-R]
Prior to entering into the agreement, the Group had earlier obtained the approval from Bursa Securities for admission to the Official List as well as the listing of its shares on the ACE Market of Bursa Securities.
In conjunction with its listing, Synergy’s IPO exercise will comprise a total of 130.0 million shares including a public issue of 80.0 million new shares representing 16.0% of the enlarged issued share capital. The IPO shares from the public issue will be allocated in the following manner:
1. 25.0 million shares representing 5.0% of the enlarged issued share capital to be allocated via balloting to the Malaysian public; 2. 12.5 million shares representing 2.5% of the enlarged issued share capital to be allocated to eligible directors, employees and persons who have contributed to the Group (“Eligible Persons”); 3. 30.0 million shares representing 6.0% of the enlarged issued shares to be allocated to selected investors by way of private placement; and 4. 12.5 million shares representing 2.5% of the enlarged issued shares capital to be allocated to Bumiputera investors approved by the Ministry of International Trade and Industry (“MITI”).
The IPO exercise also includes an offer for sale of 50.0 million existing shares representing 10.0% of the enlarged issued share capital which will be made available by way of private placement to Bumiputera investors approved by the MITI.
Under the underwriting agreement, Kenanga IB will underwrite the 25.0 million new shares made available to the Malaysian public and the 12.5 million existing shares made available to Eligible Persons.
Executive Director of Synergy House, Mr. Tan Eu Tah said, “The signing of the underwriting agreement marks an important milestone for us as it brings us one step closer towards being a listed company. We would like to extend our gratitude to Bursa Securities for granting the approval for our listing. We are also pleased to have Kenanga IB on board as our Principal Adviser, Sponsor, Underwriter and Placement Agent. Our IPO will provide us the capital to grow our business which business model we have adopted since 2004. Since 2004, we have focused solely on the design, development and sales of RTA home furniture and outsource all manufacturing works to third party manufacturers.”
Executive Director of Synergy House, Mr. Teh Yee Luen said, “The funds raised via the IPO will enable us to continue to grow our business-to-consumer (“B2C”) segment which we started in 2012. Our sales from our B2C segment have increased from RM1.99 million in the financial year ended (“FYE”) 31 December 2019 to RM24.78 million in FYE 31 December 2021 at a compound annual growth rate of 252.88%. In tandem with our strategy to continue growing our B2C segment, part of our IPO proceeds will be used to purchase inventories for our B2C segment as well as for the implementation of e-commerce advertising and promotion strategies.
Executive Director, Head of Group Investment Banking and Islamic Banking of Kenanga IB, Datuk Roslan Hj Tik said, “We would like to thank Synergy House for having us onboard for the Group’s IPO exercise. The Group’s decision to focus solely on design, development and sales of RTA home furniture has been pivotal for its growth. We believe that the Group will be able to continue to leverage its design and development capabilities to further expand its business through the listing. Our best wishes to the Group on this new journey and we look forward to supporting Synergy House in its future endeavours.”
Synergy House Bhd: https://www.synergyhouseberhad.com/