SEOUL, South Korea, June 30, 2026 (GLOBE NEWSWIRE) -- Global Interactive Technologies, Inc. (NASDAQ: GITS) (“GITS” or the “Company”) today announced the successful closing of its previously announced private placement, resulting in gross proceeds of approximately $2.0 million before deducting placement agent fees and offering expenses.
The private placement closed on June 29, 2026, pursuant to the Securities Purchase Agreement previously announced by the Company. The financing was completed with a single institutional investor.
The Company intends to use the net proceeds from the private placement to repay outstanding debt obligations, and for working capital and general corporate purposes as it executes its business strategy.
D. Boral Capital LLC acted as the exclusive placement agent for the private placement.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additional information regarding the private placement is contained in the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.
About Global Interactive Technologies, Inc.
Global Interactive Technologies, Inc. is a digital media and technology company focused on fan engagement and the fandom economy through its multi-platform ecosystem, including Faning, a global platform that connects K-pop and broader K-culture fans through shared interests, content, and community experiences. For more information, please visit the Company’s website at gitechnologies.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the expected use of proceeds from the private placement and the Company’s plans, objectives, expectations, and future performance. These statements are based on management’s current expectations and are subject to known and unknown risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Readers are urged to carefully review the Company’s filings with the U.S. Securities and Exchange Commission, including the risk factors contained therein. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Company Contact:
Global Interactive Technologies, Inc.
Taehoon Kim
[email protected]