JERSEY CITY, N.J., July 19, 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"), a digital media advertising, virtual avatar
& virtual apparel technology service provider in Hong Kong, 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 acted as sole 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 WallachBeth Capital LLC
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community, connecting
corporate clients with leading institutions, creating value for
both issuers and investors. The firm's experience includes initial
public offerings, follow-on issues, PIPE offerings, and private
transactions.
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.
Safe Harbor Statement
This press release contains forward-looking statements. We base
these forward-looking statements on our expectations and
projections about future events, which we derive from the
information currently available to us. Such forward-looking
statements relate to future events or our future performance,
including: our financial performance and projections; our growth in
revenue and earnings; and our business prospects and opportunities.
You can identify forward-looking statements by those that are not
historical in nature, particularly those that use terminology such
as "may," "should," "expects," "anticipates," "contemplates,"
"estimates," "believes," "plans," "projected," "predicts,"
"potential," or "hopes" or the negative of these or similar terms.
In evaluating these forward-looking statements, you should consider
various factors, including: our ability to change the direction of
the Company; our ability to keep pace with new technology and
changing market needs; and the competitive environment of our
business. These and other factors may cause our actual results to
differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The
forward-looking events discussed in this press release and other
statements made from time to time by us or our representatives, may
not occur, and actual events and results may differ materially and
are subject to risks, uncertainties, and assumptions about us. We
are not obligated to publicly update or revise any forward-looking
statement, whether as a result of uncertainties and assumptions,
the forward-looking events discussed in this press release and
other statements made from time to time by us or our
representatives might not occur.
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SOURCE WallachBeth Capital LLC