© Reuters. Globavend Holdings (GVH) prices 1.5 million share IPO at $4/hr
Globavend Holdings Limited (Nasdaq: GVH) (the “Pursue” or “Globavend), an emerging e-commerce logistics provider, today announced the pricing of its initial public offering (the “Offer) of 1,500,000 shares of common stock at a public offering price of $4.00 per share of common stock. The Company expects to receive aggregate gross proceeds from the offering of $6,000,000, before deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 225,000 shares of common stock at the public offering price, less underwriting discounts.
The common shares are expected to begin trading on the Nasdaq Capital Market on November 8, 2023 under the symbol “.GVH.” The offering is expected to close on November 10, 2023, subject to customary closing conditions.
The Company intends to use the net proceeds from the Offering for the leasing or purchase of warehouses, the establishment of package pickup points or intelligent delivery and pickup solutions, the establishment of business units, branches and offices abroad, potential mergers and acquisitions, as well as for working capital and general corporate activities to use use.
RF Lafferty & Co., Inc. (the “insurer“) acts as underwriter of the offer. K&L Gates is serving as U.S. advisor to the Company and Hunter Taubman Fischer & Li LLC is serving as U.S. advisor to RF Lafferty & Co., Inc.
A registration statement on Form F-1 (333-274166) relating to these securities was filed with, and declared effective by, the United States Securities and Exchange Commission on November 2, 2023. The offer is made exclusively by means of a prospectus. When available, a copy of the final prospectus relating to the offering may be obtained from RF Lafferty & Co., Inc. by email at [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC’s website at https://www.sec.gov
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification the securities laws of any such state or jurisdiction.
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