Transaction Details
The company has completed its acquisition of 98% equity stake in International Logistics Associates LLC (ILA) for a total consideration of USD 447,860. The entire consideration was discharged on July 20, 2026, in tranches, completing all conditions precedent to the transaction.
Effective Date
The acquisition is effective from January 23, 2026, pursuant to a certificate issued by the Department of the Treasury Division of Revenue & Enterprise Services, State of New Jersey, which included Velox Shipping as a member of ILA under the New Jersey Limited Liability Company Act.
Target Company Financials (as at March 31, 2026)
- Equity Value: USD 447,860
- Turnover: USD 3,220,321
- Profit: USD (62,596) (loss)
Historical Turnover of ILA
- FY 2025-26: USD 3,220,321
- 2025: USD 2,784,788
- 2024: USD 4,225,927
Additional Target Company Information
- Industry: Logistics
- Date of Incorporation: October 15, 2013
- Country of Presence: United States of America
- Line of Business: Logistics
Transaction Characteristics
- Nature of Consideration: Cash transaction
- Percentage Acquired: 98% of equity value
- Related Party Transaction: No
- Governmental Approvals Required: None
- Completion Date: July 20, 2026
Purpose and Rationale
The acquisition was undertaken with the objective of expanding and establishing the company's business operations in international markets.
Filing Details
This filing is in furtherance to the company's previous letter dated November 18, 2025, which initially informed the exchange about entering into the investment agreement.