Business
QMMM Announces Closing of $8 Million Public Offering of Ordinary Shares
HONG KONG, June 23, 2025 /PRNewswire/ -- QMMM Holdings Limited (NASDAQ: QMMM) (the "Company" or "QMMM"), a digital media advertising, virtual avatar & virtual
About this update from Qmmm Holdings Limited
[{"type":"text","content":"HONG KONG, June 23, 2025 /PRNewswire/ -- QMMM Holdings Limited (NASDAQ: QMMM) (the \"Company\" or \"QMMM\"), a digital media advertising, virtual avatar & virtual apparel technology service provider in Hong Kong, today announced the closing of its best efforts public offering of 40,000,000 ordinary shares at a public offering price of $0.20 per ordinary share.\n\nGross proceeds, before deducting placement agent fees and other offering expenses, are expected to be $8 million.\nPacific Century Securities LLC and Revere Securities LLC acted as co-placement agents in connection with this offering.\nThe securities described above were offered pursuant to a registration statement on Form F-1, as amended (File No. 333-287066) (the \"Registration Statement\"), originally filed with the U.S. Securities and Exchange Commission (the \"SEC\") on May 8, 2025. The Form F-1 was declared effective on June 20, 2025. The final prospectus was filed on June 20, 2025.\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, 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 state or other jurisdiction.\nAbout QMMM Holdings Limited\nQMMM 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...