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In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 570,000 ordinary shares at the initial public offering price, less underwriting discounts to cover over-allotments, if any. The offering is expected to close on October 20, 2023, subject to customary closing conditions.
In connection with the offering, Webuy has received approval to list its ordinary shares on the Nasdaq Capital Market, with the shares expected to begin trading on October 19, 2023 under the symbol “WBUY”.
Webuy expects to use the net proceeds from this offering for marketing, development and expansion of business, and working capital and general corporate purposes.
EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”), is acting as sole book-running manager for the Offering.
A registration statement on Form F-1 relating to the Offering, as amended, was filed with the Securities and Exchange Commission (the “SEC”) (File Number: 333-271604) and was declared effective by the SEC on September 28, 2023. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, may be obtained from EF Hutton, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offers, solicitations or sales would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
