BEIJING, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding” or the “Company”), a leading provider of advanced mobile internet infrastructure and platform services, today announced that it has priced a best-efforts public offering with gross proceeds to the Company expected to be 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 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 Share”), or in lieu thereof, a pre-funded warrant, one series A warrant to purchase one Class A Share (“Series A Warrant”) and one series B warrant to purchase one Class A Share (“Series B Warrant”). The public offering price of a Unit is $0.67. Each of the Series A Warrant and the Series B Warrant will have an exercise price of $0.7035 per Class A Share and be exercisable beginning on 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 offering is expected to close on or about October 2, 2025, subject to satisfaction of customary closing conditions.

Univest Securities, LLC is acting as sole placement agent for the offering.  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.

The securities described above are being 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. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a written preliminary prospectus and final prospectus that will form a part of the registration statement. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus relating to this offering may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.