VS MEDIA Announces Closing of an Additional $1.1 Million Following its Recent Public Offering of Ordinary Shares, Bringing the Total Gross Proceeds to Approximately $9.2 Million

Rhea-AI Summary

VS MEDIA Holdings Limited (VSME) has announced the completion of an additional closing in its public offering, raising $1.1 million through the sale of 4,774,235 ordinary shares at $0.229 per share. This follows their recent offering announced on May 30, 2025, bringing the total gross proceeds to $9.2 million. The company's total issued ordinary shares have increased to 40,070,298. After deducting placement agent fees and offering expenses of $774,351, the net proceeds from both closings amounted to $8.4 million. Joseph Gunnar & Co., LLC served as the sole placement agent for this additional closing, which was conducted under an SEC-registered Form F-1.

Positive

• Successfully raised additional $1.1 million in gross proceeds
• Total gross proceeds reached $9.2 million from both closings
• Net proceeds of $8.4 million strengthen company's financial position

Negative

• Share offering causes significant dilution with 4.7 million new shares issued
• Low share price of $0.229 indicates potential market concerns
• Substantial offering expenses of $774,351 reduced net proceeds

Insights

Financial Analyst

VS MEDIA raised an additional $1.1M in share offering, bringing total gross proceeds to $9.2M with 8.4% in offering expenses.

VS MEDIA has completed a subsequent closing of its public offering, raising an additional $1.1 million through the issuance of 4,774,235 ordinary shares at $0.229 per share. This supplemental raise follows their previously announced offering on May 30, 2025, bringing their total gross proceeds to approximately $9.2 million.

The company's share count has now increased to 40,070,298 total outstanding ordinary shares. After deducting $774,351 in placement agent fees and other offering expenses (representing about 8.4% of gross proceeds), VS MEDIA secured net proceeds of $8,401,749.

This capital raise provides VS MEDIA with additional financial resources that could potentially support their operations in the digital media and social commerce sectors within the creator economy. However, the press release doesn't specify the intended use of these proceeds.

Joseph Gunnar & Co., LLC served as the sole placement agent for this transaction, facilitating both the initial and subsequent closings. The offering was conducted through a registration statement that was declared effective by the SEC on May 6, 2025.

For existing shareholders, this additional issuance represents dilution to their ownership stakes, though the company now has a stronger cash position. The relatively low per-share price of $0.229 is notable, as is the company's ability to secure additional funding beyond their initial offering window.

Hong Kong, June 06, 2025 (GLOBE NEWSWIRE) -- VS MEDIA Holdings Limited (Nasdaq: VSME), a leading digital media and social commerce company in the global Creator Economy, today announced the subsequent closing of its public offering of 4,774,235 ordinary shares at a public offering price of $0.229 per ordinary share. This additional closing generated additional gross proceeds of $1,093,300, supplementing the recent public offering announced on May 30, 2025. As a result, the total number of issued ordinary shares has increased to 40,070,298, all at a public offering price of $0.229 per ordinary share.

Gross proceeds of the offering from two closings were $9,176,100. Net proceeds of the offering from two closings, after deducting placement agent fees and other offering expenses of $774,351, were $8,401,749.

Joseph Gunnar & Co., LLC acted as the sole placement agent in connection with this additional closing.

The securities described above were offered pursuant to a registration statement on Form F-1, as amended (File No. 333-286658) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 6, 2025. The offering was being made only by means of a prospectus, which is a part of the Registration Statement. A final prospectus relating to the offering has been filed with the SEC. Copies may be obtained from Joseph Gunnar & Co., LLC, Attn: Syndicate Department, 40 Wall Street, Suite 3004, New York, NY 10005, by calling (212) 440-9600.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About VS Media:

VS Media Holdings Limited (NASDAQ:VSME) manages a network of leading digital creators across Asia Pacific that powers content-driven social commerce and offers local and effective marketing services to brands. Founded in 2013, VSME partners with over 1,500 creators and over 1,000 brands to promote and merchandise their products and services. The Company is currently growing internationally across Hong Kong, China, Taiwan, Singapore, and beyond. For more information, visit https://www.vs-media.com.  

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

Contact Information:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: vsme@crescendo-ir.com

FAQ

How much did VS MEDIA (VSME) raise in their latest share offering?

VS MEDIA raised an additional $1.1 million in gross proceeds from the latest closing, bringing the total gross proceeds to $9.2 million from both closings.

What was the price per share for VSME's public offering in June 2025?

VS MEDIA's public offering price was $0.229 per ordinary share.

How many new shares did VS MEDIA (VSME) issue in this offering?

VS MEDIA issued 4,774,235 additional ordinary shares in this closing, bringing the total number of issued ordinary shares to 40,070,298.

What were the net proceeds from VSME's public offering?

The net proceeds from both closings were $8,401,749, after deducting placement agent fees and offering expenses of $774,351.

Who was the placement agent for VS MEDIA's public offering?

Joseph Gunnar & Co., LLC acted as the sole placement agent for the offering.