09:42 AM EDT, 06/26/2025 (MT Newswires) -- Globavend ( GVH ) said Thursday that it priced its public offering of about 21.7 million common shares, or pre-funded warrants in lieu of the shares, for total proceeds of approximately $15 million.

Each share or pre-funded warrant will come with accompanying one series A warrant and one series B warrant. A share with accompanying warrants is priced at $0.69, while a pre-funded warrant with accompanying warrants is such price less $0.001, according to the statement.

Globavend ( GVH ) said each series A warrant is exercisable for one common share at an initial exercise price of $0.69 per share, while a series B warrant is exercisable for one common share at an initial exercise price of $1.17 per share.

The company said it expects to close the offering on Friday and net proceeds would be used for capital expenditures and general corporate purposes.

Shares of Globavend ( GVH ) were down almost 72% in early trading Thursday.

Price: 0.20, Change: -0.50, Percent Change: -71.94