Webuy Secures $2 Million Debt Financing Convertible at a Premium to the Current Market Price; Potential to Receive an Additional $4.0 Million Upon Mutual Agreement of the Parties
WEBUY GLOBAL LTD. (WBUY)
Company Research
Source: GlobeNewswire
Singapore, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian community e-commerce retailer, today announced it has entered into a definitive agreement for senior convertible debt (“Convertible Security”) with an initial principal amount of $2 million, and up to an additional $4 million with an accredited institutional investor (the “Investor”) upon mutual agreement. The initial conversion price of the Convertible Security is $0.213 per share, or 150% of the VWAP of the Class A ordinary shares on the trading day preceding the Note issuance. The notes bear zero interest with monthly payments to be made in either cash or stock at the Company’s option. Additional details regarding the terms of the Convertible Security are available in the Company’s Form 6-K, which has been filed with the Securities & Exchange Commission. Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy, stated, “We believe Webuy’s ab
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News
- Webuy Global Reports Record Revenue and 253% Increase in Gross Profit for the First Half of 2024GlobeNewswire
- Webuy Achieves Record $2.9 Million in Sales within Just Three Days at NATAS Fair 2024GlobeNewswire
- Webuy Receives Extension to Regain Compliance with Nasdaq's Minimum Bid Requirements [Yahoo! Finance]Yahoo! Finance
- Webuy Receives Extension to Regain Compliance with Nasdaq’s Minimum Bid RequirementsGlobeNewswire
- Webuy Announces the Launch of its Sing Select Gift Series—a New Line of Premium Gift Sets [Yahoo! Finance]Yahoo! Finance
WBUY
Sec Filings
- 9/20/24 - Form F-1/A
- 9/17/24 - Form 6-K
- 9/12/24 - Form F-1/A
- WBUY's page on the SEC website