Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 220

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 14
Chunk 220
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Item
14. Material Modifications to the Rights of Security Holders and Use of Proceeds.

Material
Modifications to the Rights of Security Holders

None.
See “ Item 10. Additional Information - B. Memorandum and Articles of Association - Ordinary Shares”

Use
of Proceeds

The following“ Use
of Proceeds”information relates to the registration statement on Form F-1, as amended (File Number No. 333-269043) (the “F-1
Registration Statement”) in relation to our IPO of 1,750,000 Ordinary Shares, at the offering price of US$4.00 per Ordinary
Share and an additional 262,500 ordinary shares, representing full exercise of the underwriter’s over-allotment option granted in
connection with the Company’s IPO, at the offering price of US$4.00 per share.

After
deducting underwriting discounts and offering expenses, we raised approximately US$6,212,268 in net proceeds from the IPO and approximately
US$951,000 in net proceeds from the over-allotment option in connection to the IPO. None of the transaction expenses included payments
to directors or officers of our company or their associates, persons owning more than 10% or more of our equity securities or our affiliates.
None of the proceeds from the IPO were paid, directly or indirectly, to any of our directors or officers or their associates, persons
owning 10% or more of our equity securities or our affiliates.

We
still intend to use the proceeds from our initial public offering as disclosed in the F-1 Registration Statement.

Item
15. Controls and Procedures.