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GLOBAL MOFY AI LIMITED Announces Closing of $2.5 Million Private Placement Financing
GMMGlobal Mofy(GMM) GlobeNewswire News Room·2024-11-06 21:30

Core Viewpoint - Global Mofy AI Limited successfully closed a private placement financing, raising approximately 2.5milliontoenhanceitsgenerativeAIcapabilitiesandexpanditsdigitalassetofferingsinthevirtualcontentindustry[1][2][3].Group1:FinancingDetailsTheCompanyissued5,000,000ClassAordinarysharesand10,000,000warrants,eachwarrantallowingthepurchaseofoneClassAOrdinaryShareatanexercisepriceof2.5 million to enhance its generative AI capabilities and expand its digital asset offerings in the virtual content industry [1][2][3]. Group 1: Financing Details - The Company issued 5,000,000 Class A ordinary shares and 10,000,000 warrants, each warrant allowing the purchase of one Class A Ordinary Share at an exercise price of 3.00 [1]. - The gross proceeds from the Offering were approximately $2.5 million, which will be used for the development of the generative AI platform, research and development, administrative operations, talent acquisition, and working capital needs [2]. Group 2: Company Strategy and Vision - The CEO of Global Mofy expressed excitement about the financing round, emphasizing its importance in leading the generative AI transformation in the digital content sector [3]. - The funding will enable the Company to strengthen its AI capabilities, expand its 3D digital asset offerings, and explore new applications for AI in the virtual content industry [3]. Group 3: Company Overview - Global Mofy AI Limited is a generative AI-driven technology solutions provider focused on virtual content production and the development of digital assets for the digital content industry [5]. - The Company utilizes its proprietary "Mofy Lab" technology platform to create high-definition 3D digital assets applicable in various fields such as movies, TV series, AR/VR, animation, advertising, and gaming [5]. - Global Mofy Metaverse is recognized as one of the leading digital asset banks in China, housing over 100,000 high-precision 3D digital assets [5].