HONG
KONG, July 18, 2024 /PRNewswire/ -- QMMM
Holdings Limited (the "Company" or "QMMM"), a digital media
advertising, virtual avatar & virtual apparel technology
service provider in Hong Kong,
today announced the pricing of its initial public offering (the
"Offering") of 2,150,000 ordinary shares at a price of $4.00 per share. The ordinary shares have been
approved for listing on The Nasdaq Capital Market and are expected
to commence trading on July 19, 2024
under the ticker symbol "QMMM."
The aggregate gross proceeds from the Offering will be
$8.6 million, before deducting
underwriting discounts and other related expenses. The Offering is
expected to close on or about July 22,
2024, subject to the satisfaction of customary closing
conditions. QMMM has granted the underwriter a 45-day option to
purchase up to an additional 322,500 ordinary shares at the public
offering price, less underwriting discounts and commissions.
The Offering is being conducted on a firm commitment basis.
WallachBeth Capital, LLC is acting as the 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 is
being made only by means of a final prospectus, forming a part of
the registration statement. Copies of the prospectus relating to
the Offering may be obtained, when available, 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, the final prospectus will be filed with
the SEC and will be available on the SEC's website located
at http://www.sec.gov.
Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the SEC for more
information about the Company and the Offering. This press release
does 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, including but not limited to, the Company's proposed
Offering. 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, including the
expectation that the Offering will be successfully completed.
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