Globavend Holdings Limited announced the pricing of a public offering expected to generate approximately $15 million in gross proceeds for the company.
The offering comprises 21,739,130 ordinary shares, or pre-funded warrants in lieu of ordinary shares, each sold with one Series A Warrant and one Series B Warrant. The Series A Warrants have an initial exercise price of $0.69 per share, and the Series B Warrants have an initial exercise price of $1.173 per share.
The company intends to use the net proceeds from this offering for capital expenditures, operating capacity, working capital, general corporate purposes, purchasing warehouses, and potential mergers and acquisitions in the future.
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