Univest Securities, LLC Announces Closing of $10 Million Initial Public Offering of Class A Ordinary Shares for its Client VS Media Holdings Limited (Nasdaq: VSME)
02 Oktober 2023 - 11:00PM
Univest Securities, LLC (“Univest”), a member of FINRA and SIPC,
and a full-service investment bank and securities broker-dealer
firm based in New York, today announced the closing of an initial
public offering (the “Offering”) of 2,000,000 Class A ordinary
shares at a public offering price of US$5.00 per Class A ordinary
share for its client VS Media Holdings Limited (Nasdaq: VSME) (the
“Company” or “VS Media”), a Hong Kong-based company which manages a
global network of digital creators (“Creators”) who create and
publish content to social media platforms such as YouTube,
Facebook, Instagram, and TikTok. The Class A ordinary shares began
trading on the Nasdaq Capital Market on September 28, 2023 under
the ticker symbol “VSME.”
The Company received aggregate gross proceeds of
US$10.00 million from the Offering, before deducting underwriting
discounts and other related expenses.
Proceeds from the Offering will be used for: (i)
expanding business scale and territory expansion for North America
and Southeast Asia; (ii) building its Creators Incubation Program
to further recruit and develop talented Creators; (iii) repaying
its sharegolder and bank loan; (iv) building its Data Analytic
Platform; (v) reserving for general working capital; and (vi)
expanding manpower and talent pool.
The Offering was conducted on a firm commitment
basis. Univest Securities, LLC acted as the sole book-running
manager for the Offering. Sichenzia Ross Ference LLP acted as U.S.
counsel to the Company, and Ortoli Rosenstadt LLP acted as U.S.
counsel to Univest in connection with the Offering.
A registration statement on Form F-1, as amended
(File No. 333-273914), relating to the Offering was filed with the
Securities and Exchange Commission (“SEC”) by the Company and
declared effective by the SEC on September 26, 2023. The Offering
was made only by means of a prospectus, forming a part of the
registration statement. Copies of the prospectus relating to the
Offering may be obtained from Univest, Attn: 75 Rockefeller Plaza,
Suite 18C, New York, NY 10019, by email at info@univest.us, or by
calling +1 (212) 343-8888. In addition, copies of the prospectus
relating to the Offering may be obtained via the SEC's website at
www.sec.gov.
This press release does not constitute an offer
to sell, or the solicitation of an offer to buy any of the
Company’s securities, nor shall there be any offer, solicitation or
sale of any of the Company’s securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About Univest Securities,
LLC
Registered with FINRA since 1994, Univest
Securities, LLC provides a wide variety of financial services to
its institutional and retail clients globally including brokerage
and execution services, sales and trading, market making,
investment banking and advisory, wealth management. It strives to
provide clients with value-add service and focuses on building
long-term relationship with its clients. For more information,
please visit: www.univest.us.
About VS Media
Holdings Limited
VS Media Holdings Limited is a Hong Kong-based
company which manages a global network of digital creators
(“Creators”) who create and publish content to social media
platforms such as YouTube, Facebook, Instagram, and TikTok. Their
Creators include influencers, KOLs—Key Opinion Leaders, bloggers,
and other content creators who cultivate fanbases on social media
platforms. The Company empowers and supports Creators by (i)
providing them with production facilities, training, and funding to
produce quality content; (ii) helping them expand their social
media influence and fanbase by assisting with marketing, public
relations and audience analytics; and (iii) most importantly,
enabling them to monetize their influence by working effectively
with brands, platforms, and fans. It also bridges the divide
between brands and Creators through helping brands reach their
target audience effectively by (i) advising on content strategy and
budget and recommending specific Creators; (ii) communicating with
and managing selected Creators; (iii) producing engaging and
relevant content with Creators to promote key messages for brands;
(iv) publishing branded content on Creators’ social media channels;
(v) amplifying the reach of Creators’ and brands’ content through
precise media planning and buying on social media platforms; (vi)
providing optimization and retainer services through data analysis
and reporting. For more information, please visit the Company’s
website: https://www.vs-media.com/.
Forward-Looking Statements
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as “may, “will, “intend,” “should,” “believe,”
“expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the “Risk Factors” section of the
registration statement filed with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company’s filings with the SEC, which
are available for review at www.sec.gov. Univest Securities
LLC and the Company undertakes no obligation to publicly revise
these forward-looking statements to reflect events or circumstances
that arise after the date hereof.
For more information, please contact:
Univest Securities, LLCEdric
GuoChief Executive Officer75 Rockefeller
Plaza, Suite 18CNew York, NY 10019Phone: (212) 343-8888Email:
info@univest.us
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