VS MEDIA Holdings Limited announced the subsequent closing of its public offering, which included an additional sale of 4,774,235 ordinary shares at $0.229 per share. This additional closing generated gross proceeds of $1,093,300.
With this additional closing, the total gross proceeds from both closings of the public offering reached approximately $9,176,100. The total number of issued ordinary shares increased to 40,070,298.
The aggregate net proceeds from both closings, after deducting placement agent fees and other offering expenses of $774,351, totaled $8,401,749. This capital raise provides further financial flexibility for the company's growth initiatives.
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