QMMM Holdings Limited Announces Closing of $8.6 Million Initial Public Offering
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 (Nasdaq: QMMM), un fornitore di servizi di pubblicità media digitale e tecnologia virtuale con sede a Hong Kong, ha concluso con successo la sua offerta pubblica iniziale (IPO). L'azienda ha raccolto 8,6 milioni di dollari offrendo 2.150.000 azioni ordinarie a 4,00 dollari per azione. Le contrattazioni sono iniziate sul Nasdaq Capital Market il 19 luglio 2024, sotto il simbolo ticker 'QMMM'. Il sottoscrittore, WallachBeth Capital, ha un'opzione di 45 giorni per acquistare fino a ulteriori 322.500 azioni. L'IPO è stata condotta su base di impegno fermo, con FisherBroyles, LLP che funge da consulente legale per i titoli negli Stati Uniti per QMMM Holdings e Sichenzia Ross Ference Carmel LLP come consulente del sottoscrittore.
QMMM Holdings (Nasdaq: QMMM), un proveedor de servicios de publicidad en medios digitales y tecnología virtual con sede en Hong Kong, ha cerrado con éxito su oferta pública inicial (IPO). La empresa recaudó 8.6 millones de dólares ofreciendo 2,150,000 acciones ordinarias a 4.00 dólares por acción. Las operaciones comenzaron en el Nasdaq Capital Market el 19 de julio de 2024, bajo el símbolo de cotización 'QMMM'. El suscriptor, WallachBeth Capital, tiene una opción de 45 días para comprar hasta 322,500 acciones adicionales. La IPO se llevó a cabo sobre la base de un compromiso firme, con FisherBroyles, LLP actuando como asesor legal de valores en los Estados Unidos para QMMM Holdings y Sichenzia Ross Ference Carmel LLP como asesor del suscriptor.
홍콩에 본사를 두고 있는 디지털 미디어 광고 및 가상 기술 서비스 제공업체인 QMMM Holdings(Nasdaq: QMMM)는 성공적으로 초기 공모(IPO)를 마감했습니다. 이 회사는 860만 달러를 모금했으며, 2,150,000주의 보통주를 주당 4.00 달러에 제공했습니다. 거래는 2024년 7월 19일 Nasdaq Capital Market에서 'QMMM'이라는 주식 기호 아래 시작되었습니다. 인수인인 WallachBeth Capital은 추가로 최대 322,500주를 구매할 수 있는 45일 옵션을 보유하고 있습니다. IPO는 확정 약정 기준으로 실시되었으며, FisherBroyles, LLP가 QMMM Holdings의 미국 증권 법률 자문 역할을 하고 Sichenzia Ross Ference Carmel LLP가 인수인의 법률 자문 역할을 했습니다.
QMMM Holdings (Nasdaq: QMMM), un fournisseur de services de publicité numérique et de technologie virtuelle basé à Hong Kong, a réussi à clôturer son introduction en bourse (IPO). L'entreprise a levé 8,6 millions de dollars en offrant 2 150 000 actions ordinaires à 4,00 dollars par action. Les échanges ont commencé sur le Nasdaq Capital Market le 19 juillet 2024, sous le symbole boursier 'QMMM'. Le souscripteur, WallachBeth Capital, dispose d'une option de 45 jours pour acheter jusqu'à 322 500 actions supplémentaires. L'IPO a été réalisée sur une base d'engagement ferme, avec FisherBroyles, LLP agissant en tant que conseiller juridique en valeurs mobilières pour QMMM Holdings et Sichenzia Ross Ference Carmel LLP comme conseiller du souscripteur.
QMMM Holdings (Nasdaq: QMMM), ein Anbieter von digitalen Mediendienstleistungen und virtuellen Technologiediensten mit Sitz in Hongkong, hat erfolgreich sein Börsengang (IPO) abgeschlossen. Das Unternehmen hat 8,6 Millionen Dollar durch die Ausgabe von 2.150.000 Stammaktien zu einem Preis von 4,00 Dollar pro Aktie eingenommen. Der Handel begann am 19. Juli 2024 an der Nasdaq Capital Market unter dem Tickersymbol 'QMMM'. Der Emissionshaus WallachBeth Capital hat die Option, innerhalb von 45 Tagen bis zu 322.500 zusätzliche Aktien zu erwerben. Der IPO wurde auf der Grundlage einer festen Verpflichtung durchgeführt, wobei FisherBroyles, LLP als US-Wertpapierrechtsberater für QMMM Holdings und Sichenzia Ross Ference Carmel LLP als Berater des Emissionshauses tätig war.
- Successfully raised $8.6 million through IPO
- Listed on Nasdaq Capital Market, potentially increasing visibility and liquidity
- Underwriter has option to purchase additional shares, potentially increasing total proceeds
- Potential dilution of existing shareholders' ownership due to new share issuance
- Additional expenses related to being a public company may impact profitability
The successful IPO of QMMM Holdings Limited is a significant milestone for the company, raising $8.6 million which can be used to drive future growth. The offering price of $4.00 per share sets a valuation benchmark and gives the company access to public markets for additional capital in the future. Investors should note the firm commitment basis of the offering, which indicates strong confidence from the underwriters and mitigates some level of risk.
This influx of capital can be pivotal for QMMM Holdings, especially in scaling their operations in the digital media advertising and virtual services space, sectors that are seeing rapid growth. The decision to trade on the Nasdaq Capital Market under the ticker 'QMMM' provides added visibility and credibility, which can be beneficial in attracting institutional investors.
Retail investors should recognize that while the IPO secures initial funding, the company's future success will largely depend on its ability to execute its business strategy and capitalize on growth opportunities.
QMMM Holdings stands at the intersection of digital media and virtual technology—two rapidly evolving sectors. The infusion of $8.6 million from the IPO is likely to accelerate their technology development and market penetration. Virtual avatars and virtual apparel are emerging markets with significant potential, especially as the metaverse concept continues to gain traction.
However, investors should be aware that the success of such technologies depends on widespread adoption and the company's ability to innovate continuously. The current competitive landscape is fierce and sustained R&D investments will be important for QMMM Holdings to maintain a competitive edge.
Furthermore, the company's presence in the Hong Kong market, coupled with a Nasdaq listing, positions it well to leverage international opportunities and partnerships, which could be a strategic advantage for technology deployment and user base expansion.
The market reception of QMMM Holdings' IPO, evidenced by the full subscription and firm commitment basis, suggests a positive investor sentiment towards the company's potential. This can be largely attributed to the growing interest in digital media advertising and virtual technologies, which are forecasted to expand significantly in the coming years.
From a market standpoint, QMMM Holdings' ability to differentiate its offerings and establish a strong brand presence will be critical. The funds raised will likely be directed towards marketing, customer acquisition and enhancing their technological capabilities.
Investors should keep an eye on future earnings reports and any strategic partnerships or product launches, as these will be key indicators of the company's ability to grow its market share and achieve long-term profitability.
The aggregate gross proceeds from the Offering were
The Offering was conducted on a firm commitment basis. WallachBeth Capital, LLC acted as lead underwriter for the Offering. FisherBroyles, LLP is acting as
A registration statement on Form F-1 relating to the Offering has been filed with the
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's 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 such state or jurisdiction.
About QMMM Holdings Limited
QMMM 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
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events 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," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any 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 and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC, which are available for review at www.sec.gov.
For more information, please contact:
QMMM Holdings Limited
Phone: +852 3549 6889
Email: info@qmmm.io
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SOURCE QMMM HOLDINGS LIMITED
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