By Ben Glickman
Global Mofy Metaverse Limited on Monday priced its initial public offering of 1.2 million shares at $5 each.
The Chinese digital reality company said it expects gross proceeds of $6 million. The offering is expected to close Oct. 12. The company said it would use the proceeds for research and development of its technology, as well as marketing and business expansion, talent acquisition and training and working capital.
Global Mofy Metaverse in its initial filing with the Securities and Exchange Commission said that it would offer 6 million shares at a price of $4.50 to $5.50 each.
The company said it expected shares to begin trading Oct. 10 on the Nasdaq under the ticker GMM.
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