JERSEY
CITY, N.J., July 23,
2024 /PRNewswire/ -- WallachBeth Capital LLC, a
leading provider of capital markets and institutional execution
services, announced today that QMMM Holdings Limited (the "Company"
or "QMMM"), (NASDAQ: QMMM) a digital media advertising, virtual
avatar & virtual apparel technology service provider in
Hong Kong, has completed its
previously announced IPO of 2,150,000 shares at a price of
$4.00 per share. QMMM Holdings has
granted the underwriter a 45-day option to purchase up to an
additional 322,500 ordinary shares at the public offering price,
less the underwriting discounts.
The aggregate gross proceeds from the Offering were $8.6 million, before deducting underwriting
discounts and other related expenses. The ordinary shares began
trading on The Nasdaq Capital Market on July
19, 2024, under the ticker symbol "QMMM".
The Offering was conducted on a firm commitment basis.
WallachBeth Capital, LLC acted as lead underwriter for the
Offering. FisherBroyles, LLP is acting as U.S. securities counsel
to the Company, and Sichenzia Ross Ference Carmel LLP is acting as
U.S. counsel to WallachBeth Capital, LLC in connection with the
Offering.
A registration statement on Form F-1 relating to the Offering
has been filed with the U.S. Securities and Exchange Commission
("SEC") (File Number: 333-274887) and was declared effective by the
SEC on July 1, 2024. The Offering was
made only by means of a final prospectus. A final prospectus
relating to the Offering was filed with the SEC on July 22, 2024, which may be obtained from
WallachBeth Capital, LLC, Harborside Financial Center Plaza 5, 185
Hudson Street, Ste 1410, Jersey City,
NJ 07311, by email to cap-mkts@wallachbeth.com, or by
calling +1 646.237.8585. In addition, a copy of the final
prospectus relating to the Offering may be obtained via the SEC's
website at www.sec.gov.
About WallachBeth Capital LLC.
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community. The firm's
experience includes initial public offerings, follow-on issues,
PIPE offerings, and private transactions. The firm's website is
located at www.wallachbeth.com.
This news release does not constitute an offer to sell or a
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 an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "is/are likely to," "potential,"
"continue" or other similar expressions. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and other filings with the SEC,
which are available for review at www.sec.gov.
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SOURCE WallachBeth Capital LLC
