Company: GVH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052766
Chunk: 4

Company: Globavend Holdings Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 4
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) on the Trading Market on which the Ordinary Shares are then listed
or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York
City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Ordinary Shares for such date
(or the 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