VS MEDIA Holdings Limited announced the closing of its public offering, which involved the sale of 35,296,063 ordinary shares at a public offering price of $0.229 per ordinary share. This offering generated gross proceeds of $8,082,800 for the company.
After deducting placement agent fees and other offering expenses totaling $730,619, the net proceeds from this offering amounted to $7,352,181. Joseph Gunnar & Co., LLC acted as the sole placement agent for this transaction.
The securities were offered pursuant to a registration statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission on May 6, 2025. This capital infusion is expected to strengthen the company's financial position.
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