WASHINGTON (dpa-AFX) - QMMM Holdings Limited, a digital advertising and marketing production services company, announced the pricing of its initial public offering of 2.15 million ordinary shares at a price of $4.00 per share.
The ordinary shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on July 19, 2024 under the ticker symbol 'QMMM.'
The aggregate gross proceeds from the Offering will be $8.6 million, before deducting underwriting discounts and other related expenses.
The Offering is expected to close on or about July 22, 2024, subject to the satisfaction of customary closing conditions. QMMM has granted the underwriter a 45-day option to purchase up to an additional 322,500 ordinary shares at the public offering price, less underwriting discounts and commissions.
WallachBeth Capital, LLC is acting as the lead underwriter for the Offering. FisherBroyles, LLP is acting as U.S. securities counsel to the Company, and Sichenzia Ross Ference Carmel LLP is acting as U.S. counsel to WallachBeth Capital, LLC in connection with the Offering.
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