Global Mofy AI (GMM) Prices 5M Unit Offering at $0.50/unit

Global Mofy AI Limited (Nasdaq: GMM) today announced that it has entered into a Securities Purchase Agreement (the “SPA”) with certain non-U.S. investors (each individually, a “Purchaser”, and collectively, the “Purchasers”). Pursuant to the SPA, the Company will sell and issue up to 5,000,000 units (each a “Unit”, and collectively, the “Units”) to the Purchasers in a private placement financing transaction (the “Offering”) at an offering price of $0.50 per unit. Each Unit consists of (i) one Class A ordinary share, par value $0.000002 per share (the “Class A Ordinary Share”) (or one pre-funded warrant to purchase one Class A Ordinary Share (the “Pre-Funded Warrant”)), (ii) two warrants, each exercisable for one Class A Ordinary Share at an exercise price of $3.00 per share (each a “Ordinary Warrant”, and collectively, the “Ordinary Warrants”). The exercise price and number of Class A Ordinary Share issuable upon exercise of the Ordinary Warrants are subject to adjustment as described in the Ordinary Share Purchase Warrant. The Ordinary Warrants will be exercisable upon issuance and will have a term of 5 years from the issuance date. The gross proceeds of the Offering are expected to be approximately $2.5 million, before the deduction of customary expenses.

The Company intends to use the net proceeds from the Offering, together with the Company’s existing cash, cash equivalents, and marketable securities, to provide financing for its generative AI platform, general research and development, administrative expenses, talent acquisition, and working capital needs.

"We believe generative AI represents the future of content creation, and this funding allows us to accelerate our efforts in leveraging AI to revolutionize virtual content production," said Haogang Yang, CEO of Global Mofy. "With the resources secured from this Offering, we will continue to enhance our generative AI platform, expand our library of 3D digital assets, and explore new applications for AI-driven solutions across industries. Our goal is to lead the next wave of innovation in digital content and provide cutting-edge solutions that meet the growing demands of the virtual economy."

The securities described above have not been registered under the Securities Act of 1933, as amended. Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Global Mofy has agreed to file a registration statement with the Securities and Exchange Commission (SEC) registering the resale of the Class A Ordinary Shares and Class A Ordinary Shares issuable upon the exercise of the Pre-Funded Warrants and the Ordinary Warrants issued in this Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

You May Also Be Interested In

• Smith Micro files two SEC registration statements for existing securities
• Largo receives Nasdaq notice for falling below $1 minimum bid price
• Samos Energy prices IPO of 20M units at $10 each on NYSE