Global Mofy Metaverse, a Chinese provider of virtual content and digital marketing services, filed on Wednesday with the SEC to raise up to $30 million in an initial public offering.
The Beijing, China-based company plans to raise $30 million by offering 6 million shares at a price range of $4.50 to $5.50. At the midpoint of the proposed range, Global Mofy Metaverse would command a market value of $150 million.
Global Mofy Metaverse engages in virtual content production, digital marketing, and digital assets development for the metaverse industry utilizing its proprietary "Mofy Lab" technology platform which consists of 3D rebuilt technology and AI interactive technology. The company states that it has attracted high-profile customers such as L'Oreal and Pepsi, and has earned repeat business.
Global Mofy Metaverse was founded in 2017 and booked $22 million in revenue for the 12 months ended March 31, 2022. It plans to list on the Nasdaq under the symbol GMM. The company filed confidentially on March 4, 2022. Maxim Group LLC is the sole bookrunner on the deal.
