Opportunity arises for micro businesses and SAAS company to gain more

WeTrade Group Inc. ("Wetrade" or the "Company") (NASDAQ: WETG), an emerging growth company engaged in the business of providing software-as-a-services (SAAS) and cloud intelligent systems for micro-businesses, today announced the pricing of an underwritten public offering (the "Offering") of 10,000,000 shares of its common stock at a price to the public of $4.00 per share. The offering is expected to close on or about July 21, 2022, subject to customary closing conditions.

Nasdaq Stock Market LLC ("Nasdaq") has approved the Company's application for uplisting its common stock to the Nasdaq Capital Market. The Company's common stock is expected to commence trading on the Nasdaq Capital Market at the opening of the market on July 19, 2022, under the Company's current ticker symbol "WETG."

The Company expects to receive aggregate gross proceeds of $40 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of its common stock at a price to the public of $4.00 per share, less underwriting discounts.

Net proceeds from the Offering will be used for the Company's R&D and technology developmeda, marketing and talent recruitment in China, strategic investment in service provider and general working capital.

Offering is being conducted on a firm commitment basis. Univest Securities, LLC is acting as the sole book runner to the Offering. Ortoli Rosenstadt LLP is acting as counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as counsel to the underwriter in connection with the Offering.

submitted by /u/kandelito
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *