HONG
KONG, Aug. 8, 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 that WallachBeth Capital, LLC, as
representative of the underwriters of the Company's firm commitment
initial public offering ("IPO"), has partially exercised its
over-allotment option to purchase an additional 56,342 ordinary
shares of the Company at the IPO price of $4.00 per share. The gross proceeds of the
Company's IPO, including the proceeds from the sale of the
over-allotment shares, totaled approximately $8.83 million, before deducting underwriting
discounts and other related expenses.
WallachBeth Capital, LLC acted as lead underwriter of the IPO.
FisherBroyles, LLP acted as U.S. securities counsel to the Company,
and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to
WallachBeth Capital, LLC.
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 of
the ordinary shares 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 IPO 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 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 QMMM Holdings Limited
QMMM Holdings 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
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SOURCE QMMM HOLDINGS LIMITED