NEW YORK, March 22, 2024 (GLOBE NEWSWIRE) — GD Culture Group Limited (“GDC” or the “Company”) 
GDC, a holding company that currently conducts business through its operating subsidiary, AI Catalysis Corp. (“AI Catalysis”), announced today that it has entered into a definitive agreement with various investors to purchase and sell an aggregate of 810,277 shares of the Company’s stock. Common stock at a purchase price of $1,144 per share in a registered direct offering.
The company's gross revenues are expected to be approximately $926,957. The transactions are expected to close on or about March 26, 2024, subject to customary closing conditions being met.
Univest Securities, LLC is acting as sole placement agent.
The shares have been registered and the offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-254366) previously filed and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 26, 2021. A prospectus supplement will be filed The final filing and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus, when available, may be obtained by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, as well as the accompanying base prospectus, may be obtained on the SEC's website at www.sec.gov.
About JD Cultural Group Co., Ltd.
JD Cultural Group Limited (“the Company”) GDC, a Nevada holding company that currently conducts business through its operating subsidiary AI Catalys Corp. (“AI Catalysis”). The company plans to enter the live streaming market with a focus on e-commerce and live streaming of interactive games through its wholly-owned US subsidiary, AI Catalys, a Nevada company founded in May 2023. The company's primary businesses include artificial intelligence-driven digital human technology , and live broadcast. -E-commerce business broadcast and interactive game live broadcast. For more information, please visit the company's website at https://www.gdculturegroup.com/.
Forward-looking statements
This press release contains forward-looking statements, including information about the expected timing of the closing and the use of proceeds from the offering, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's results to differ materially from those expressed or implied by such statements. Certain of these and other risk factors are included in the Company's filing documents with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as well as subsequent reports filed with the Securities and Exchange Commission. And stock exchanges. There are other unknown or unpredictable factors that could also have material adverse effects on the Company's future results. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “ likely”, “ongoing”, “it is likely” or other similar expressions. The forward-looking statements contained in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements and undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results.
For investor and media inquiries, please contact:
Rise Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
