Global MofyAI has successfully secured approximately $4 million through a private placement agreement with select investors. As part of this agreement, the company will issue and sell 2,030,460 Class A ordinary shares alongside 2,030,460 warrants. Each share and corresponding warrant will be sold at a combined price of $1.97, slightly above the Nasdaq Minimum Price guidelines. This valuation is determined by the Nasdaq Official Closing Price as of April 14, 2025.
The warrants will initially have an exercise price of $2.36 per share and are set to be immediately exercisable upon issuance. They come with a five-year expiration period. Notably, both the exercise price and the number of shares that can be obtained upon exercising the warrants may be adjusted according to the warrant terms.
The funds raised from this offering are earmarked for various corporate purposes at Global MofyAI (GFAI). These will include supporting working capital needs, advancing product development, and expanding the company's AI-driven technologies. A significant portion of the investment will contribute to the development of their recently launched Gauss AI Lab, further solidifying their position in the AI sector.
