Global Mofy to sell 5M units at 50c in private placement financing

Global Mofy AI has entered into a Securities Purchase Agreement with certain non-U.S. investors. Pursuant to the SPA, the Company will sell and issue up to 5,000,000 units to the Purchasers in a private placement financing transactionat an offering price of $0.50 per unit. Each Unit consists of one Class A ordinary share, par value $0.000002 per share, two warrants, each exercisable for one Class A Ordinary Share at an exercise price of $3.00 per share. The exercise price and number of Class A Ordinary Share issuable upon exercise of the Ordinary Warrants are subject to adjustment as described in the Ordinary Share Purchase Warrant. The Ordinary Warrants will be exercisable upon issuance and will have a term of 5 years from the issuance date. The gross proceeds of the Offering are expected to be approximately $2.5 million, before the deduction of customary expenses. The Company intends to use the net proceeds from the Offering, together with the Company’s existing cash, cash equivalents, and marketable securities, to provide financing for its generative AI platform, general research and development, administrative expenses, talent acquisition, and working capital needs.