Globavend Holdings Limited (NASDAQ: GVH), an emerging e-commerce logistics provider, announced the pricing of a public offering of approximately $15 million, before deducting placement agent fees and other estimated expenses payable by the Company.
The offering is comprised of 21,739,130 of the Company’s ordinary shares (or pre-funded warrants in lieu of ordinary shares). Each ordinary share or pre-funded warrant is being sold with one Series A Warrant to purchase one ordinary share at an initial exercise price of $0.69 per share (the “Series A Warrants”) and one Series B Warrant to purchase one ordinary share at an initial exercise price of $1.173 per share, (the “Series B Warrants” and, together with the Series A Warrants, the “Warrants”). The pre-funded warrants will be exercisable immediately upon issuance and will expire when exercised in full. The Series A Warrants are exercisable immediately and will expire on the one-year anniversary of their initial exercise date and the Series B Warrants are exercisable immediately and will expire on the one-year anniversary of its initial exercise date.
Univest Securities, LLC is acting as sole placement agent for the offering. Lucosky Brookman represented Univest Securities, LLC.
