Global Mofy Metaverse Limited Announces Pricing of $6,000,000 Initial Public Offering

Beijing, China, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Global Mofy Metaverse Limited (the "Company" or “Mofy Metaverse”) (NASDAQ: GMM), a technology solutions provider engaged in virtual content production, digital marketing, and digital assets development for the metaverse industry, today announced the pricing of its initial public offering (the "Offering") of 1,200,000 ordinary shares (the "Ordinary Shares") at a public offering price of $5.00 per share for total gross proceeds of $6,000,000, before deducting underwriting discounts and offering expenses. The Ordinary Shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on October 10, 2023, under the ticker symbol "GMM".

The Company has granted the underwriters an option, within 45 days from the closing date of the Offering, to purchase up to an additional 180,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotment, if any.

The Offering is expected to close on October 12, 2023, subject to the satisfaction of customary closing conditions.

The Offering is being conducted on a firm commitment basis. Prime Number Capital, LLC is acting as the sole bookrunner for the Offering. Ortoli Rosenstadt LLP is acting as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the underwriter, in connection with the Offering.

The Company intends to use the proceeds from this Offering for i) continued research and development of its core technologies; ii) marketing, potential acquisition and business expansion; iii) talent acquisition and training; and iv) working capital.

A registration statement on Form F-1 (File No. 333-268553) relating to the Offering, as amended, has been filed with the Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on September 28, 2023. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, when available, from Prime Number Capital, LLC by email at [e-mail] or via standard mail to Prime Number Capital, LLC, 12 E 49^th St, Floor 27, New York, 10105. In addition, a copy of the final prospectus can also be obtained via the SEC's website at www.sec.gov.