Glory Star New Media Group Holdings Limited Announces Proposed Public Offering
20 February 2021 - 8:15AM
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Glory
Star” or the “Company”), a leading mobile and online digital media
and entertainment company in China, today announced it has
commenced a public offering of ordinary shares and warrants to
purchase ordinary shares.
Univest Securities, LLC is acting as the sole book-running
manager for the offering.
The Company intends to use the net proceeds from the offering
primarily for working capital and other general corporate
purposes.
The ordinary shares and warrants are being offered pursuant to
an effective shelf registration statement on Form F-3 (File No.
333-248554), that was previously filed with the Securities and
Exchange Commission (“SEC”) and declared effective on September 14,
2020. The securities may be offered only by means of a prospectus.
A preliminary prospectus supplement relating to and describing the
terms of the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov and may also be
obtained from Univest Securities, LLC, 375 Park Avenue, 15th Floor,
New York, NY 10152, by phone at (212) 343-8888 or by e-mail at
info@univest.us.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading mobile
entertainment operator in China. Glory Star’s ability to integrate
premium lifestyle content, including short videos, online variety
shows, online dramas, live streaming, its Cheers lifestyle video
series, e-Mall, and mobile app, along with innovative e-commerce
offerings on its platform enables it to pursue its mission of
enriching people’s lives. The Company’s large and active user base
creates valuable engagement opportunities with consumers and
enhances platform stickiness with thousands of domestic and
international brands.
Safe Harbor Statement
Certain statements made in this release are “forward looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words “estimates,”
“projected,” “expects,” “anticipates,” “forecasts,” “plans,”
“intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,”
“propose” and variations of these words or similar expressions (or
the negative versions of such words or expressions ) are intended
to identify forward-looking statements. These forward-looking
statements, include, but are not limited to that the Company will
be successful in its offering of securities, and are not
guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
the Company’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward-looking
statements. Important factors, among others, are: the ability to
manage growth; ability to identify and integrate other future
acquisitions; ability to obtain additional financing in the future
to fund capital expenditures; fluctuations in general economic and
business conditions; costs or other factors adversely affecting our
profitability; litigation involving patents, intellectual property,
and other matters; potential changes in the legislative and
regulatory environment; a pandemic or epidemic; and other factors
listed in the Company’s Annual Report on Form 10-K for the year
ending December 31, 2019 and in other filings made by the Company
with the Securities and Exchange Commission from time to time. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
Such information speaks only as of the date of this release.
Contacts
Glory Star New Media Group Holdings LimitedYida YeEmail:
yeyida@yaoshixinghui.com
ICR LLC.Sharon ZhouTel: +1 (646) 308-0546Email:
gsnm@icrinc.com
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