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BEIJING, April 16, 2025 (GLOBE NEWSWIRE) -- Global Mofy AI Limited (the “Company” or “Global Mofy”) (Nasdaq: GMM), a generative AI-driven technology solutions provider engaged in virtual content production and the development of 3D digital assets for use in the broader digital content industry, today announced that it has entered into securities purchase agreements (the “SPAs”) with certain investors for a private placement of its securities for gross proceeds of approximately US$4 million (the “Offering”).
Pursuant to the SPAs, the Company will issue and sell up to 2,030,460 Class A ordinary shares, par value US$0.00003 per share (the “Class A Ordinary Shares”), and 2,030,460 warrants, each to initially purchase one Class A Ordinary Share (the “Warrant”), at a combined purchase price of US$1.97 per Class A Ordinary Share and Warrant. This price represents 101% of the Nasdaq Minimum Price, as defined under Nasdaq Listing Rule 5635(d), based on the Nasdaq Official Closing Price (NOCP) on April 14, 2025.
Each Warrant will have an initial exercise price of US$2.36 per share, will be immediately exercisable upon issuance, and will expire five years from the date of issuance. The exercise price and the number of Class A Ordinary Shares issuable upon exercise of the Warrants are subject to adjustment pursuant to the terms of the Warrants.
The Company intends to use the net proceeds from the Offering for general corporate purposes, including working capital, product development, and the continued expansion of its AI-powered technology platforms — including investment in its recently announced Gauss AI Lab.
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 Warrants.
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.
About Global Mofy AI Limited
Global Mofy AI Limited (Nasdaq: GMM) is a generative AI-driven technology solutions provider engaged in virtual content production, and the development of digital assets for the digital content industry. Utilizing its proprietary “Mofy Lab” technology platform, which consists of interactive 3D and artificial intelligence (“AI”) technology, the Company creates high-definition virtual versions of a wide range of physical world objects in 3D ranging from characters, objects to scenes and more. The digital assets can be used in different applications, including movies, TV series, AR/VR, animation, advertising, gaming, and more. Global Mofy is one of the leading digital asset banks in China, which consists of more than 100,000 high-precision 3D digital assets. For more information, please visit www.globalmofy.cn/ or ir.globalmofy.cn.