Company: GVH
Filing Date: 2025-05-23
Form Type: F-1
Source: 0001213900-25-046965
Chunk: 23

Company: Globavend Holdings Ltd
Filing Date: 2025-05-23
Form: F-1
Chunk 23
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 the laws of the Cayman Islands that wholly -ownsour subsidiary, Globavend Associates Limited (“Globavend BVI”), a company incorporated under the laws of the BVI, that in turn wholly owns Globavend HK and Globavend Warehouse, our subsidiaries in Hong Kong. In November 2023, we completed our initial public offering and listed our Ordinary Shares on Nasdaq under the symbol “GVH”. We raised approximately US$3.0 million in net proceeds from the issuance of new Ordinary Shares from the initial public offering after deducting underwriting discounts, commissions and expenses. The charts below illustrate our corporate structure and subsidiaries as of the date of this prospectus: 2 We are a “controlled company” as defined under the rules and regulations of Nasdaq because, as of the date of this prospectus, our Controlling Shareholder owns approximately 76.4% of our total issued and outstanding Ordinary Shares, representing approximately 76.4% of the total voting power. Holding Company Structure Globavend Holdings is a holding company incorporated in the Cayman Islands with no material operations of its own, and we conduct our operations primarily in Hong Kong through our HK Subsidiaries. This is an offering of the Ordinary Shares of Globavend Holdings, the holding company in the Cayman Islands, instead of the shares of our HK Subsidiaries. Investors in this Offering will not directly hold any equity interests in any of our HK Subsidiaries. As a result of our corporate structure, Globavend Holdings’ ability to pay dividends may depend upon dividends paid by our HK Subsidiaries, including Globavend HK. If our HK Subsidiaries, including our existing operating subsidiary Globavend HK, or any newly formed ones incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us. Transfers of Cash To and From Our Subsidiaries Our management monitors the cash position of our HK Subsidiaries regularly and prepares budgets on a monthly basis to ensure they have the necessary funds to fulfill their obligations for the foreseeable future and to ensure adequate liquidity. In the event that there is a need for cash or a potential liquidity issue, it will be reported to our Chief Financial Officer and subject to approval by our board of directors. The ability of Globavend Holdings to transfer cash to its subsidiaries is subject to the due corporate authorization in accordance with the Memorandum and Articles of Association of Globavend Holdings and Globav