QMMM Holdings Limited (Nasdaq: QMMM) today announced the closing of its initial public offering (the “Offering”) of 2,150,000 shares of its common stock at a price of $4.00 per part. QMMM Holdings has granted the underwriter a 45-day option to purchase an additional 322,500 shares of common stock at the public offering price, less underwriting discounts.
The total gross proceeds from the Offering amounted to $8.6 million, before deducting insurance discounts and other related costs. The common stock traded on the Nasdaq Capital Market July 19, 2024 under the ticker symbol “QMMM”.
The Offer was executed on the basis of a firm commitment. WallachBeth Capital, LLC acted as lead underwriter for the Offering. Fisher Broyles, LLP acts as US securities advisor to the Company, and Sichenzia Ross Ference Carmel LLP acts as US recommend WallachBeth Capital, LLC in connection with the Offer.
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 was made exclusively by means of a final prospectus. A final prospectus relating to the Offering has been filed with the SEC on July 22, 2024available at WallachBeth Capital, LLC, Financial Center Plaza at the harbour 5, Hudson Street 185Ste 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 Offering may be obtained from SECs website on www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any offer, solicitation or sale of any securities of the Company in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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