Globavend prices 21.7M shares at 69c in public offering

Globavend (GVH) Holdings announced the pricing of a public offering with gross proceeds to the Company of approximately $15M, 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. 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 and one Series B Warrant to purchase one ordinary share at an initial exercise price of $1.173 per share. 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. The purchase price of each ordinary share and accompanying Warrants is $0.69, and the purchase price of each pre-funded warrant and accompanying Warrants is such price minus $0.001. The Company intends to use the net proceeds from this offering for capital expenditures, operating capacity, working capital, general corporate purposes, purchasing warehouses, registration and operation of our overseas business entities, branches and office and potential mergers and acquisitions in the future. The offering is expected to close on June 27, 2025. Univest Securities is acting as sole placement agent for the offering.