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QMMM Holdings (Nasdaq: QMMM), a digital media advertising and virtual technology service provider in Hong Kong, has announced the partial exercise of the underwriters' over-allotment option in its initial public offering (IPO). WallachBeth Capital, , the representative of the underwriters, purchased an additional 56,342 ordinary shares at the IPO price of $4.00 per share. This brings the total gross proceeds of the IPO to approximately $8.83 million, before deducting underwriting discounts and other expenses.
The IPO was conducted through a registration statement on Form F-1, which was declared effective by the SEC on July 1, 2024. A final prospectus was filed on July 22, 2024. WallachBeth Capital, acted as the lead underwriter, with FisherBroyles, LLP and Sichenzia Ross Ference Carmel LLP providing legal counsel.
WallachBeth Capital announced the successful closing of QMMM Holdings 's (NASDAQ: QMMM) initial public offering (IPO). QMMM, a Hong Kong-based digital media advertising and virtual technology service provider, offered 2,150,000 shares at $4.00 per share, raising $8.6 million in gross proceeds. Trading began on the Nasdaq Capital Market on July 19, 2024, under the ticker symbol 'QMMM'. The underwriter has a 45-day option to purchase up to 322,500 additional shares. WallachBeth Capital acted as the lead underwriter for this firm commitment offering. The IPO was supported by a Form F-1 registration statement filed with the SEC, which became effective on July 1, 2024.
QMMM Holdings (Nasdaq: QMMM), a Hong Kong-based digital media advertising and virtual technology service provider, has successfully closed its initial public offering (IPO). The company raised $8.6 million by offering 2,150,000 ordinary shares at $4.00 per share. Trading began on the Nasdaq Capital Market on July 19, 2024, under the ticker symbol 'QMMM'. The underwriter, WallachBeth Capital, , has a 45-day option to purchase up to an additional 322,500 shares. The IPO was conducted on a firm commitment basis, with FisherBroyles, LLP acting as U.S. securities counsel to QMMM Holdings and Sichenzia Ross Ference Carmel LLP as counsel to the underwriter.
QMMM Holdings has announced the pricing of its initial public offering (IPO) at $4.00 per share, aiming to raise $8.6 million through the sale of 2,150,000 ordinary shares. The shares will list on the Nasdaq Capital Market under the symbol QMMM starting July 19, 2024. The offering is expected to close around July 22, 2024, pending customary closing conditions. Additionally, QMMM has granted a 45-day option to the underwriter to purchase up to 322,500 additional shares at the IPO price. WallachBeth Capital, is the lead underwriter, with FisherBroyles, LLP and Sichenzia Ross Ference Carmel LLP acting as legal counsels. The registration statement for the offering was declared effective by the SEC on July 1, 2024. Copies of the prospectus can be obtained from WallachBeth Capital or the SEC's website. This announcement is not an offer to sell or a solicitation to buy securities in any jurisdiction where it would be unlawful.
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