QMMM Holdings Ltd. Prices IPO at $4.00 Per Share (QMMM)

QMMM Holdings Ltd. (QMMM) is planning to raise $8 million in an initial public offering (IPO) on Wednesday, July 17th, IPO Scoop reports. The company will be issuing 2,100,000 shares at a price of $4.00 per share.

In the last year, QMMM Holdings Ltd. generated $2.8 million in revenue and had a net loss of $1.3 million. QMMM Holdings Ltd. has a market cap of $68.5 million.

WallachBeth Capital and Revere Securities acted as the underwriters for the IPO.

QMMM Holdings Ltd. provided the following description of their company for its IPO: “We are the holding company for an award-winning digital media advertising service, virtual avatar and virtual apparel technology service company whose operating subsidiaries are based in Hong Kong. (Incorporated in the Cayman Islands)  We are an award-winning digital media advertising service, virtual avatar and virtual apparel technology service company. Through our operating subsidiaries ManyMany Creations and Quantum Matrix, we have used interactive design, animation, art-tech and virtual technologies in over 500 commercial campaigns. We have worked with large domestic and international banks, real estate developers, a world famous amusement park, top international athletic apparel and footwear brands, and luxury cosmetic products for their advertising and creative work in Hong Kong. Standing prominently in Hong Kong for over 18 years in the industry, with top creativity, premium account servicing, and ever advancing tech R&D, we continue to be one of the top premium choices for enterprises and multinational enterprises looking for large-scale content-heavy and tech-integrated campaigns. Our clients include local and international banks, real-estate developers, luxury brands, high fashion houses and theme parks. Our subsidiary ManyMany Creations has stood out in the industry by breaking through traditional forms of advertising through digital technology. We endeavour to integrate quality concepts with creative digital media technology and provide a one-stop shop for content creativity and production for ad campaigns, TV commercials, online video, 360 video and animation, VR/AR/MR technology, 3D scanning, motion capture, projection mapping and digital fa?§ade production. In March 2014, our wholly owned subsidiary Quantum Matrix, was incorporated. It has launched digital avatar â€?Quantum Humanâ€? and â€?Quantum Fitâ€? solutions, which we believe is the world’s only avatar technology for mass adoption of virtual identity. Quantum Matrix has created over 30,000 digital avatars. Quantum Matrix owns two patents in Hong Kong: The first patent is for its method of converting a 3D scanned object to an avatar and the second patent is for its method of automatically fitting an accessory object – a garment, for example – to an avatar. (See the prospectus for details.) These technologies are applied in commercial events, theme parks, fashion shows, luxury events, the entertainment industry, travel retail and a tech platform, among others. In addition, our technologies further provide a strong foundation to develop platforms for social media, entertainment, virtual self-expression and virtual influencers, as well as tradable and sharable digital assets for consumers and creators. Note: Net loss and revenue are in U.S. dollars for the year that ended Sept. 30, 2023. (Note: QMMM Holdings Ltd. named WallachBeth Capital as a joint book-runner – to work with Revere Securities – in an F-1/A filing dated June 25, 2024.) (Note: QMMM Holdings Ltd. is offering 2.13 million ordinary shares (2,125,000 Ordinary Shares) at $4.00 to raise $8.5 million, according to its F-1/A filing dated May 20, 2024. Background: QMMM Holdings filed its F-1 on Oct. 6, 2023. The company submitted its confidential IPO filing to the U.S. Securities and Exchange Commission on June 23, 2023.) “.

QMMM Holdings Ltd. was founded in 2005 and has 28 employees. The company is located at Unit 1301, Block C, Sea View Estate, 8 Watson Road Tin Hau, Hong Kong and can be reached via phone at + (852) 3549-6889 or on the web at http://www.qmmm.io/.