BEIJING, Nov. 22, 2024 — Global Mofy AI Limited (Nasdaq: GMM), a provider of generative AI-driven technology solutions for virtual content production and 3D digital assets in the digital content industry, announced a 1-for-15 reverse stock split, approved by shareholders on November 1, 2024. Trading will reflect this split on November 26, 2024, under the existing ticker symbol “GMM,” with a new CUSIP number: G3937M114.
Effective immediately, every fifteen existing Class A ordinary shares will consolidate into one. This reduces outstanding shares from approximately 42.2 million to approximately 2.8 million.
Concurrently, the Company amended its Memorandum of Association, proportionally reducing authorized shares and adjusting the post-split par value to $0.00003 per share.
This action addresses Nasdaq’s minimum bid price requirement of $1.00 per share for continued listing.
Outstanding warrants and options will be proportionally adjusted, or as per their terms. Fractional shares will be rounded up to the nearest whole share.
Further details are in the Company’s notice of special meeting, filed with the Securities and Exchange Commission on October 18, 2024.
About Global Mofy AI Limited
Global Mofy AI Limited (Nasdaq: GMM) provides generative AI-driven technology solutions for virtual content production and digital asset development within the digital content industry. Its “Mofy Lab” platform uses interactive 3D and AI technology to create high-definition 3D virtual versions of various real-world objects, including characters, objects, and scenes. These assets are used in movies, TV, AR/VR, animation, advertising, and gaming. Global Mofy Metaverse is a leading Chinese digital asset bank with over 100,000 high-precision 3D digital assets. Visit www.globalmofy.cn/ or ir.globalmofy.cn for more information.
Forward-Looking Statement
This release includes forward-looking statements regarding plans, objectives, goals, strategies, future events or performance. Words like “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” and similar expressions denote forward-looking statements. These statements, including those regarding Ordinary Share trading on Nasdaq and the offering, are subject to risks and uncertainties. Actual results may differ materially. These risks include market conditions, the completion of the initial public offering, and other factors detailed in the “Risk Factors” section of the SEC registration statement. Investors should not unduly rely on these statements. Additional information is in the Company’s SEC filings at www.sec.gov. The Company disclaims any obligation to update these statements.
For more information, please contact:
Global Mofy AI Ltd.
Investor Relations Department
ir@mof-vfx.com
