Global Mofy Metaverse Limited (the "Company" or “Global Mofy Metaverse”) (NASDAQ: GMM), a technology solutions provider engaged in virtual content production, digital marketing, and digital assets development for the metaverse industry, today announced that it closed its previously announced follow-on offering of $10 million of ordinary shares, par value $0.000002 per share (the "Ordinary Shares") and accompanying warrants at a price of $7.25 per share and accompanying warrants. In this institutional placement, the Company issued a total of 1,379,313 Ordinary Shares and common warrants ("Common Warrants") for the purchase of up to 2,068,970 Ordinary Shares at an exercise price of $8.00 per share to two institutional investors, which Common Warrants have a term of three years from the date of issuance. The net proceeds to the Company from this offering are approximately $8.9 million, after deducting placement agent fees and other estimated offering expenses.
Source: Yahoo Finance
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