GD Culture Group Limited Announces At-The-Market Equity Offering Program
GD Culture Group (GDC) has announced an At-the-Market (ATM) equity offering program with a maximum aggregate value of $10.0 million through Univest Securities, Under this agreement, GDC can issue and sell common stock shares at prevailing market prices, with the volume and timing determined at the company's discretion.
The offering is being made under a previously filed shelf registration statement on Form F-3, which was declared effective by the SEC on August 20, 2024. The company plans to use the proceeds for general working capital and corporate purposes. Sales will be conducted through methods defined as 'at-the-market' offerings under Rule 415 of the Securities Act, including direct sales through Nasdaq Capital Market or other permitted trading venues.
GD Culture Group (GDC) ha annunciato un programma di offerta azionaria At-the-Market (ATM) con un valore massimo aggregato di 10,0 milioni di dollari attraverso Univest Securities. In base a questo accordo, GDC può emettere e vendere azioni ordinarie ai prezzi di mercato attuali, con il volume e il timing determinati a discrezione dell'azienda.
L'offerta è effettuata sotto un precedente documento di registrazione a scaffale depositato sul modulo F-3, che è stato dichiarato efficace dalla SEC il 20 agosto 2024. L'azienda prevede di utilizzare i proventi per il capitale circolante generale e per scopi aziendali. Le vendite saranno condotte attraverso metodi definiti come offerte 'at-the-market' ai sensi della Regola 415 del Securities Act, inclusa la vendita diretta attraverso il Nasdaq Capital Market o altri luoghi di scambio consentiti.
GD Culture Group (GDC) ha anunciado un programa de oferta de acciones At-the-Market (ATM) con un valor máximo agregado de 10.0 millones de dólares a través de Univest Securities. Bajo este acuerdo, GDC puede emitir y vender acciones ordinarias a los precios de mercado vigentes, con el volumen y el tiempo determinados a discreción de la empresa.
La oferta se realiza bajo una declaración de registro a estantería previamente presentada en el formulario F-3, que fue declarada efectiva por la SEC el 20 de agosto de 2024. La empresa planea utilizar los ingresos para capital de trabajo general y fines corporativos. Las ventas se llevarán a cabo a través de métodos definidos como ofertas 'at-the-market' bajo la Regla 415 de la Ley de Valores, incluidas las ventas directas a través del Nasdaq Capital Market u otros lugares de negociación permitidos.
GD 문화 그룹 (GDC)는 Univest Securities를 통해 1000만 달러의 최대 총 가치를 지닌 시장가격 기준(ATM) 주식 공모 프로그램을 발표했습니다. 이 협약에 따라 GDC는 회사의 재량에 따라 정해진 거래량 및 시기를 기준으로 현재 시장 가격으로 보통주를 발행하고 판매할 수 있습니다.
이 공모는 2024년 8월 20일 SEC에 의해 효력이 발생한 이전에 제출된 F-3 양식의 선등록문서에 따라 이루어집니다. 회사는 일반 운영 자본 및 기업 목적을 위해 수익금을 사용할 계획입니다. 판매는 증권법 제415조에 따른 '시장가격 기준' 공모로 정의된 방법을 통해 이루어지며, Nasdaq 자본시장 또는 기타 허용된 거래소를 통한 직접 판매가 포함됩니다.
GD Culture Group (GDC) a annoncé un programme d'offre d'équité At-the-Market (ATM) d'une valeur maximale agrégée de 10,0 millions de dollars via Univest Securities. Selon cet accord, GDC peut émettre et vendre des actions ordinaires aux prix de marché en vigueur, le volume et le timing étant déterminés à la discrétion de l'entreprise.
L'offre est réalisée en vertu d'une déclaration d'enregistrement à étagère précédemment déposée sur le formulaire F-3, qui a été déclarée efficace par la SEC le 20 août 2024. L'entreprise prévoit d'utiliser les produits pour le fonds de roulement général et à des fins d'entreprise. Les ventes seront effectuées par des méthodes définies comme des offres 'at-the-market' conformément à la règle 415 de la loi sur les valeurs mobilières, y compris des ventes directes via le marché des capitaux Nasdaq ou d'autres lieux de négociation autorisés.
GD Culture Group (GDC) hat ein At-the-Market (ATM) Aktienemissionsprogramm mit einem maximalen aggregierten Wert von 10,0 Millionen Dollar über Univest Securities angekündigt. Im Rahmen dieser Vereinbarung kann GDC Stammaktien zu den aktuellen Marktpreisen ausgeben und verkaufen, wobei Volumen und Timing nach Ermessen des Unternehmens festgelegt werden.
Die Emission erfolgt im Rahmen einer zuvor eingereichten Shelf-Registrierungsanmeldung gemäß Formular F-3, die von der SEC am 20. August 2024 für wirksam erklärt wurde. Das Unternehmen plant, die Erlöse für allgemeine Betriebsmittel und Unternehmenszwecke zu verwenden. Der Verkauf erfolgt nach den in der Regel 415 des Wertpapiergesetzes definierten 'At-the-Market'-Methoden, einschließlich direkter Verkäufe über den Nasdaq Capital Market oder andere zulässige Handelsstätten.
- Flexible access to up to $10.0 million in additional capital
- Discretionary control over timing and volume of share sales
- Multiple distribution channels available for share sales
- Potential dilution of existing shareholders' value
- Share sales at market prices may pressure stock value downward
- No guaranteed sales through the ATM program
Insights
The announcement of a
Several critical aspects deserve scrutiny:
- The choice of an ATM program over traditional financing methods suggests the company is seeking flexibility in raising capital, but it also indicates potential challenges in securing more conventional funding sources.
- The lack of a specified timeframe for the share issuance creates uncertainty around the dilution timeline, though the market-based pricing mechanism provides some protection against severe price disruptions.
- The broad designation of proceeds for "general working capital and corporate purposes" offers visibility into the specific use of funds, raising questions about the company's immediate capital needs.
Particularly noteworthy is that this offering comes through a shelf registration statement filed in May 2024, suggesting this capital raise was planned well in advance. The size of the offering relative to the company's market cap indicates a significant potential ownership dilution, which could materially impact existing shareholders' positions.
NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”) (Nasdaq: GDC), and its subsidiary, AI Catalysis Corp. (“AI Catalysis”), today announced that it has entered into an At-the-Market (“ATM”) issuance sales agreement (the “Agreement”) with Univest Securities, LLC (“Univest” or the “Sales Agent”) under which the Company may, from time to time, issue and sell shares of its common stock, par value
Sales of the Shares, if any, will be made at or related to then prevailing market prices and, as a result, prices may vary. The volume and timing of sales under the ATM program will be determined at the Company’s discretion. The Company expects to use any proceeds from the ATM program for general working capital and corporate purposes.
Pursuant to the Agreement, the Sales Agent may sell the Shares, if any, only by methods deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the United States Securities Act of 1933, as amended (the “Securities Act”), including, without limitation, sales made directly through the Nasdaq Capital Market or any other trading market on which the Company’s common stock is listed or quoted or to or through a market maker. In addition, subject to the terms and conditions of the Agreement, with the Company’s prior written consent, the Sales Agent may also sell Shares by any other method permitted by law, or as may be required by the rules and regulations of the Nasdaq Stock Market, LLC or such other trading market on which the Company’s common stock is listed or quoted, including, but not limited to, in negotiated transactions. The Sales Agent will use commercially reasonable efforts consistent with its normal trading and sales practices to sell the Shares in accordance with the terms of the Sales Agreement and any applicable Transaction Notice. The Company cannot provide any assurances that the Sales Agent will sell any Shares pursuant to the Agreement.
The Shares have been registered and the offering is being made pursuant to a shelf registration statement on Form F-3 (File No. 333-279141) previously filed on May 6, 2024 and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on August 20, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus, can be obtained at the SEC’s website at www.sec.gov.
About GD Culture Group Limited
GD Culture Group Limited (the “Company”) (Nasdaq: GDC), is a Nevada company currently conducting business mainly through its subsidiaries, AI Catalysis Corp. (“AI Catalysis”) and Shanghai Xianzhui Technology Co, Ltd. The company plans to enter into the livestreaming market with focus on e-commerce through its wholly owned U.S. subsidiary, AI Catalysis, a Nevada corporation incorporated in May 2023. The Company’s main businesses include AI-driven digital human technology, live-streaming e-commerce business. For more information, please visit the Company's website at https://www.gdculturegroup.com/.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update 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.
For investor and media inquiries, please contact:
GD Culture Group Limited
Investor Relations Department
Email: ir@gdculturegroup.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
FAQ
What is the maximum value of GDC's new ATM offering program?
When was GDC's shelf registration statement declared effective by the SEC?
How will GDC use the proceeds from the ATM offering?
Who is the sales agent for GDC's ATM offering program?
How will the pricing of GDC's shares be determined in the ATM offering?
