Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 166

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 4
Chunk 166
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ITEM 4. INFORMATION
ON THE COMPANY

  History                         

We commenced operation
in June 2016 with the establishment of Globavend HK, a company incorporated under the laws of Hong Kong on June 27, 2016 Immediately
before the reorganization in contemplation of our initial public offering, Globavend HK was wholly-owned by Mr. Wai Yiu Yau, our Controlling
Shareholder.

On May 22, 2023, our
ultimate holding company, Globavend Holdings was incorporated under the laws of the Cayman Islands as an exempted company with limited
liability, with an authorized share capital of US$50,000 divided into 50,000,000 ordinary shares, par value US$0.001, with 13,125,000
Ordinary Shares issued and allotted to Globavend Investments Limited (“ Globavend Investments”), a company incorporated under
the laws of the BVI, and wholly-owned by our Controlling Shareholder.

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  Table of Contents  

On May 24, 2023,
Globavend Associates Limited (“ Globavend BVI”) was incorporated under the laws of the British Virgin Islands. Globavend BVI
is a wholly owned subsidiary of the Company, which was incorporated for the purposes of acting as intermediary holding company of the
Company’s operating entity, Globavend HK.

On May 29, 2023, as
part of the reorganization in contemplation of our initial public offering, we completed a share swap transaction, pursuant to which
Globavend BVI acquired all the issued shares of Globavend HK from our Controlling Shareholder in consideration of Globavend BVI allotting
and issuing another one ordinary share to Globavend Holdings. Following such share swap, Globavend HK became the Company’s indirectly
owned subsidiary through Globavend BVI.

In November 2023,
we completed our initial public offering and listed our Ordinary Shares on the Nasdaq Capital Market under the symbol “ GVH.”
We raised approximately US$3.0 million in net proceeds from the issuance of new shares from the initial public offering after deducting
underwriting discounts, commissions and expenses.

On March 15, 2024,
we entered into the ELOC Purchase Agreement with the, pursuant to which the Investor has committed to purchase up the ELOC Shares, subject
to certain limitations and conditions set forth in the ELOC Purchase Agreement. We have registered