Global Mofy AI Limited announced on November 6, 2024, the successful closing of its previously announced private placement financing on October 31, 2024. The company received gross proceeds of approximately $2.5 million from the offering.
In connection with the closing, Global Mofy issued an aggregate of 5,000,000 Class A ordinary shares and 10,000,000 warrants. Each warrant is exercisable upon issuance at a price of $3.00 per share and has a term of 5 years.
These funds will be strategically utilized to support the development of the company’s generative AI platform, drive research and development initiatives, bolster administrative operations, facilitate talent acquisition, and satisfy working capital needs.
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