Company: GVH
Filing Date: 2025-05-23
Form Type: F-1
Source: 0001213900-25-046965
Chunk: 4

Company: Globavend Holdings Ltd
Filing Date: 2025-05-23
Form: F-1
Chunk 4
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 nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Ordinary Shares are not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Ordinary Shares are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per Ordinary Share so reported, or (d) in all other cases, the fair market value of one Ordinary Share as determined by an independent appraiser pursuant to the terms of the applicable instrument. A holder of Series B Warrants may, at any time and in its sole discretion, exercise its Series B Warrants in whole or in part by means of a “zero exercise price” option in which the holder is entitled to receive a number of Ordinary Shares equal to the product of (a) the number of Ordinary Shares that would be issuable upon exercise of the Series B Warrant in accordance with the terms of such Series B Warrant if such exercise were by means of a cash exercise rather than a cashless exercise and (b) the quotient obtained by dividing (i) the exercise price minus the lowest VWAP of the Ordinary Shares during the five (5) trading days immediately prior to the date that the applicable exercise date (such VWAP, the “Low Price”) by (ii) 50% of the Low Price. This “zero exercise price” option is only available at a time when the applicable Low Price is lower than the then applicable Exercise Price. At no time can the Low Price be lower than the Floor Price. As a result of this feature, we do not expect to receive any cash proceeds from the exercise of the Series B Warrants because it is highly unlikely that a Series B Warrant holder will elect to pay an exercise price in cash to receive Ordinary Shares when they could elect the “zero exercise price” option in these circumstances to receive more Ordinary Shares than they would receive if they did pay an exercise price. As an example, given the above provisions, holders of the Series A Warrants will be issued a maximum of 16,176,471 Ordinary Shares upon the exercise of the Series A Warrants. Each Series B Warrant includes one underlying Ordinary Share that may be obtained by exercising the Series B Warrant at an assumed exercise price equal to 170% of the price per Ordinary Unit sold in this Offering; however if the holder elects the zero exercise price option, the number of shares of Ordinary Shares could increase to up to