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QMMM Holdings Limited Announces Partial Exercise of the Underwriters' Over-Allotment Option
HONG KONG, Aug. 8, 2024 /PRNewswire/ -- QMMM Holdings Limited (Nasdaq: QMMM) (the "Company" or "QMMM Holdings"), a digital media advertising, virtual avatar &
About this update from Qmmm Holdings Limited
[{"type":"text","content":"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.\n\nWallachBeth 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.\nA 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 [email protected], 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. \nThis 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.\nAbout QMMM Holdings Limited\nQMMM 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 50...