Global Mofy Metaverse Limited Announces Closing of $6,000,000 Initial Public Offering
13 October 2023 - 1:30AM
Global Mofy Metaverse Limited (the "Company" or “Mofy Metaverse”)
(NASDAQ: GMM), a technology solutions provider engaged in virtual
content production, digital marketing, and digital assets
development for the metaverse industry, today announced the closing
of its initial public offering (the "Offering") of 1,200,000
ordinary shares (the "Ordinary Shares") at a public offering price
of $5.00 per share for total gross proceeds of $6,000,000, before
deducting underwriting discounts and offering expenses. In
addition, the Company has granted the underwriters an option,
within 45 days from the closing date of the Offering, to purchase
up to an additional 180,000 Ordinary Shares at the public offering
price, less underwriting discounts, to cover over-allotment, if
any. The Offering closed on October 12, 2023 and the Ordinary
Shares began trading on October 10, 2023 on The Nasdaq Capital
Market under the ticker symbol "GMM".
The Offering was conducted on a firm commitment
basis. Prime Number Capital, LLC acted as the sole bookrunner for
the Offering. Ortoli Rosenstadt LLP acted as U.S. counsel to the
Company, and Hunter Taubman Fischer & Li LLC acted as U.S.
counsel to Prime Number Capital, LLC, in connection with the
Offering.
The Company intends to use the proceeds from
this Offering for i) continued research and development of its core
technologies; ii) marketing, potential acquisition and business
expansion; iii) talent acquisition and training; and iv) working
capital.
A registration statement on Form F-1 (File No.
333-268553) relating to the Offering, as amended, has been filed
with the Securities and Exchange Commission (the "SEC") and was
declared effective by the SEC on September 28, 2023. The Offering
is being made only by means of a prospectus. Copies of the final
prospectus related to the Offering may be obtained, when available,
from Prime Number Capital, LLC by email at info@pncps.com or via
standard mail to Prime Number Capital, LLC, 12 E 49th St, Floor 27,
New York, 10105. In addition, a copy of the final prospectus can
also be obtained via the SEC's website at www.sec.gov.
Before you invest, you should read the
prospectus and other documents the Company has filed or will file
with the SEC for more information about the Company and the
Offering. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Global Mofy Metaverse
Limited
Headquartered at Beijing, Global Mofy Metaverse
Limited is a technology solutions provider engaged in virtual
content production, digital marketing, and digital assets
development for the metaverse industry. Utilizing its proprietary
“Mofy Lab” technology platform which consists of
cutting-edge three-dimensional (“3D”) rebuilt technology
and artificial intelligence (“AI”) interactive technology, the
Company creates 3D high definition virtual version of a wide range
of physical world objects such as characters, objects and scenes
which can be used in different applications such as movies, TV
series, AR/VR, animation, adverting and gaming. Mofy Metaverse is
one of the leading digital asset banks in China, which consists of
more than 7,000 high precision 3D digital assets. With its strong
technology platform and industry track record, Mofy Metaverse is
able to attract high-profile customers and earn repeat
business. The Company primarily operates in three lines of business
(i) virtual technology service, (ii) digital marketing,
and (iii) digital asset development and others. For more
information, please visit: www.globalmofy.cn/, ir.globalmofy.cn
.
Forward-Looking Statement
This press release contains forward-looking
statements. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as "may, "will, "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. These forward-looking statements
include, without limitation, the Company's statements regarding the
expected trading of its Ordinary Shares on the Nasdaq Capital
Market and the closing of the Offering. Forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the “Risk Factors” section of the
registration statement filed with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
Underwriters
Prime Number Capital LLCMs. Xiaoyan Jiang,
ChairwomanEmail:xj@pncps.com Phone: 516-582-9666
Investor Relations
WFS Investor Relations Inc. Janice Wang,
Managing Partner Email: services@wealthfsllc.comPhone: +86
13811768599 +1 628 283 9214
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