GLOBAL MOFY AI LIMITED Announces Closing of $2.5 Million Private Placement Financing
06 Noviembre 2024 - 3:30PM
Global Mofy AI Limited (the “Company” or “Global Mofy”) (Nasdaq:
GMM), a generative AI-driven technology solutions provider engaged
in virtual content production and the development of 3D digital
assets for use in the broader digital content industry, today
announced the successful closing of its previously announced
private placement financing (the “Offering”) on October 31, 2024.
In connection with the closing of the Offering, the Company issued
an aggregate of 5,000,000 Class A ordinary shares, par value
$0.000002 per share (each an “Class A Ordinary Share”), and
10,000,000 warrants (each a “Warrant”), each to purchase one Class
A Ordinary Share at an exercise price of $3.00 per share, subject
to adjustment, pursuant to the securities purchase agreement dated
October 13, 2024, as amended on October 31, 2024, by and between
the Company and each investor. The Warrants are exercisable upon
issuance and will have a term of 5 years from the issuance date.
The Company received gross proceeds of
approximately $2.5 million from the Offering, before deducting
customary transaction costs and expenses. These funds will be
strategically utilized to support the development of the Company’s
generative AI platform, drive research and development initiatives,
bolster administrative operations, facilitate talent acquisition,
and satisfy working capital needs.
“We are excited to complete this financing
round, which marks an important step in our mission to lead the
generative AI-driven transformation in the digital content sector,”
said Haogang Yang, CEO of Global Mofy. “This funding enables us to
further strengthen our AI capabilities, expand our 3D digital asset
offerings, and explore new frontiers for AI applications in the
virtual content industry. Our focus remains on advancing the
capabilities of our platform to meet the ever-evolving needs of the
digital economy.”
The securities described above have not been
registered under the Securities Act of 1933, as amended.
Accordingly, these securities may not be offered or sold in the
United States, except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act. Global Mofy has agreed to file
a registration statement with the Securities and Exchange
Commission (SEC) registering the resale of the Class A Ordinary
Shares and Class A Ordinary Shares issuable upon the exercise of
the Warrants issued in this Offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About Global Mofy AI
LimitedGlobal Mofy AI Limited (Nasdaq: GMM) is a
generative AI-driven technology solutions provider engaged in
virtual content production, and the development of digital assets
for the digital content industry. Utilizing its proprietary "Mofy
Lab" technology platform, which consists of interactive 3D and
artificial intelligence ("AI") technology, the Company creates
high-definition virtual versions of a wide range of physical world
objects in 3D ranging from characters, objects to scenes and more.
The digital assets can be used in different applications, including
movies, TV series, AR/VR, animation, advertising, gaming, and more.
Global Mofy Metaverse is one of the leading digital asset banks in
China, which consists of more than 100,000 high-precision 3D
digital assets. For more information, please visit
www.globalmofy.cn/ or ir.globalmofy.cn.
Forward-Looking StatementThis
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:Global Mofy
AI Ltd.Investor Relations Departmentir@mof-vfx.com
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