Corporate ActionJul 16, 2026, 06:06 AM
Globavend Issues 13.1M Unregistered Ordinary Shares
AI Summary
Globavend Holdings Ltd filed Amendment No. 1 to its F-1 Registration Statement, detailing recent sales of unregistered securities. The company issued 13,125,000 ordinary shares to Globavend Investments Limited for $13,125 and 306,123 ordinary shares to Square Gate Capital Master Fund, LLC for no consideration, relying on registration exemptions. Additionally, the filing outlines the company's policy to indemnify its directors and officers and its intent to secure directors' and officers' liability insurance.
Key Highlights
- Globavend issued 13,125,000 ordinary shares to Globavend Investments Limited for $13,125.
- An additional 306,123 ordinary shares were issued to Square Gate Capital Master Fund, LLC for $0.
- These securities were not registered under the Securities Act, relying on Regulation D, Section 4(2), or Regulation S exemptions.
- The company's Memorandum and Articles of Association empower it to indemnify directors and officers.
- Globavend has entered into indemnification agreements with each of its directors and executive officers.
- The company intends to obtain directors' and officers' liability insurance coverage.
- This filing is Amendment No. 1 to the F-1 Registration Statement.
Price Impact
More from GVH