Glory Star New Media Holdings Limited Announces Close of $12.5 Million Underwritten Public Offering
24 Fevereiro 2021 - 6:15PM
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG)
(“Glory Star” or the “Company”), a leading mobile and online
digital media and entertainment company in China, today announced
the close of its underwritten public offering of an aggregate of
3,810,976 ordinary shares of the Company, together with warrants to
purchase 3,810,976 ordinary shares of the Company, at a public
offering price of $3.28 per share and associated warrant. After
deducting underwriting discounts and commissions and other
estimated offering expenses, the net proceeds of the public
offering were approximately $11.3 million.
Univest Securities, LLC was the sole book-running manager for
the offering.
The Company intends to use the net proceeds from the offering
primarily for working capital and other general corporate
purposes.
The ordinary shares and warrants were offered pursuant to an
effective shelf registration statement on Form F-3 (File No.
333-248554) that was previously filed with the Securities and
Exchange Commission (“SEC”) and declared effective on September 14,
2020. The securities were offered only by means of a prospectus. A
final prospectus supplement and the accompanying base prospectus
was filed with the SEC and is available on the SEC’s website at
www.sec.gov. and also may be obtained from Univest Securities, LLC,
375 Park Avenue, 15th Floor, New York, NY 10152 by contacting at
(212) 343-8888 or by e-mail at info@univest.us. The Company also
filed a Form 6-K with the SEC describing this offering.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading mobile
entertainment operator in China. Glory Star’s ability to integrate
premium lifestyle content, including short videos, online variety
shows, online dramas, live streaming, its Cheers lifestyle video
series, e-Mall, and mobile app, along with innovative e-commerce
offerings on its platform enables it to pursue its mission of
enriching people’s lives. The Company’s large and active user base
creates valuable engagement opportunities with consumers and
enhances platform stickiness with thousands of domestic and
international brands.
Safe Harbor Statement
Certain statements made in this release are “forward looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words “estimates,”
“projected,” “expects,” “anticipates,” “forecasts,” “plans,”
“intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,”
“propose” and variations of these words or similar expressions (or
the negative versions of such words or expressions ) are intended
to identify forward-looking statements. These forward-looking
statements are not guarantees of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside the Company’s control, that could cause actual
results or outcomes to differ materially from those discussed in
the forward-looking statements. Important factors, among others,
are: the ability to manage growth; ability to identify and
integrate other future acquisitions; ability to obtain additional
financing in the future to fund capital expenditures; fluctuations
in general economic and business conditions; costs or other factors
adversely affecting our profitability; litigation involving
patents, intellectual property, and other matters; potential
changes in the legislative and regulatory environment; a pandemic
or epidemic; and other factors listed in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2019 and in
other filings made by the Company with the Securities and Exchange
Commission from time to time. The Company undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law. Such information speaks only as of the
date of this release.
Contacts
Glory Star New Media Group Holdings LimitedYida YeEmail:
yeyida@yaoshixinghui.com
ICR LLC.Sharon ZhouTel: +1 (646) 308-0546Email:
gsnm@icrinc.com
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