HONG
KONG, July 22, 2024 /PRNewswire/ -- QMMM
Holdings Limited (Nasdaq: QMMM) (the "Company" or "QMMM Holdings"),
a digital media advertising, virtual avatar & virtual apparel
technology service provider in Hong
Kong, today announced the closing of its initial public
offering (the "Offering") of 2,150,000 ordinary 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.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy any of the Company's securities,
nor shall there be any offer, solicitation or sale of any of the
Company's 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 such state or
jurisdiction.
About QMMM Holdings Limited
QMMM Holdings Limited (the "Company") is an award-winning
digital advertising and marketing production services company.
Through its operating subsidiaries ManyMany Creations Limited and
Quantum Matrix Limited in Hong
Kong, the Company has used interactive design, animation,
art-tech and virtual technologies in over 500 commercial campaigns.
The Company has worked with large domestic and international banks,
real estate developers, world famous amusement park, top
international athletic apparel and footwear brands and luxury
cosmetic products and international brands for their advertising
and creation work in Hong Kong.
Standing prominently in Hong Kong
for over 18 years in the industry, with top creativity, premium
account servicing, and ever-advancing tech R&D, the Company
continues to be one of the top premium choices for enterprises and
multinational enterprises looking for large scale content-heavy and
tech-integrated campaigns. The clients of the Company include local
and international banks, real-estate developers, luxury brands,
high fashion houses, and theme parks.
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.
For more information, please contact:
QMMM Holdings Limited
Phone: +852 3549 6889
Email: info@qmmm.io
View original
content:https://www.prnewswire.com/news-releases/qmmm-holdings-limited-announces-closing-of-8-6-million-initial-public-offering-302203053.html
SOURCE QMMM HOLDINGS LIMITED