Univest Securities, LLC Announces Closing of $8.5 Million Public Offering for its Client Cheer Holding, Inc. (NASDAQ: CHR)

New York, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Univest Securities, LLC (“Univest”), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of Public Offering (the “Offering”) of approximately $8.5 million for its client Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding” or the “Company”), a leading provider of advanced mobile internet infrastructure and platform services. The offering is comprised of 12,686,565 units (each a “Unit”), consisting of one Class A ordinary share of the Company, par value $0.001 per share (the “Class A Ordinary Shares”), or in lieu thereof, a pre-funded warrant, one series A warrant to purchase one Class A Ordinary Share (each, a “Series A Warrant”) and one series B warrant to purchase one Class A Ordinary Share (each, a “Series B Warrant”). The public offering price of the Units is $0.67 per Unit. Each of the Series A Warrants and the Series B Warrants will have an exercise price of $0.7035 per Class A Ordinary Share and be exercisable beginning on the date of the issuance date and ending on the one year anniversary of the issuance date. In addition, a holder of the Series B Warrant may also effect a “zero exercise price” option at any time while the Series B Warrants are outstanding. Under the zero exercise price option, the holder of Series B Warrants will receive 5.1235 Class A Shares for each Series B Warrant exercised. The aggregate gross proceeds to the Company were approximately $8.5 million, before deducting placement agent fees and other estimated expenses payable by the Company, excluding the exercise of any warrants offered. The Company intends to use the net proceeds from the offering for general working capital purposes and other general corporate purposes, including sales and marketing expenses for user acquisition. Univest Securities, LLC acted as the sole placement agent. The securities described above were offered by the Company pursuant to a registration statement on Form F-1 (File No. 333-289372) previously filed and declared effective by the Securities and Exchange Commission (the “SEC”) on September 30, 2025. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering were filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus 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 will there be any sales of such 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, together with the accompanying base prospectus, can be obtained at the SEC's website at www.sec.gov. About Univest Securities, LLC Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, and wealth management. It strives to provide clients with value-add service and focuses on building long-term relationships with its clients. As a prominent name on Wall Street, Univest has successfully raised over $1.5 billion in capital for issuers across the globe since 2019 and has completed approximately 100 transactions spanning a wide array of investment banking services in various industries, including technology, life sciences, industrial, consumer goods, etc. For more information, please visit: www.univest.us. About Cheer Holding, Inc. As a preeminent provider of next-generation mobile internet infrastructure and platform services in China, Cheer Holding is dedicated to building a digital ecosystem that integrates “platforms, applications, technology, and industry” into a cohesive digital eco-system, thereby creating a new, open business environment for web3.0 that leverages AI technology. The Company is developing a 5G+VR+AR+AI shared universe space that builds on cutting-edge technologies including blockchain, cloud computing, extended reality, and digital twin. Cheer Holding’s portfolio includes a wide range of products and services, such as CHEERS Telepathy, CHEERS Video, CHEERS e-Mall, CHEERS Open Data, CheerReal, CheerCar, CheerChat, Polaris Intelligent Cloud, AI-animated short drama series, short video matrix, variety show series, Livestreaming, and more. These offerings provide diverse application scenarios that seamlessly blend “online/offline” and “virtual/reality” elements. With “CHEERS+” at the core of Cheer Holding’s digital ecosystem, the Company is committed to utilizing innovative product applications and technologies to drive its long-term sustainable and scalable growth. For more information, please visit the Company’s website: http://ir.gsmg.co/. Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. Univest Securities LLC and the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For more information, please contact: Univest Securities, LLCEdric GuoChief Executive Officer75 Rockefeller Plaza, Suite 18CNew York, NY 10019Phone: (212) 343-8888Email: info@univest.us

Univest Securities, LLC Announces Closing of $8.5 Million Public Offering for its Client Cheer Holding, Inc. (NASDAQ: CHR)

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