BEIJINGJuly 22, 2022 /PRNewswire/ — WeTrade Group Inc. (“we tradeor the “Company”) (NASDAQ: WETG), an emerging and growing company specializing in the provision of software as a service (SAAS) and intelligent cloud systems for micro-businesses, today announced the closing public offering (the “Offer”) of 10,000,000 common shares at a public price of $4.00 per share.
The Company’s common stock began trading on the Nasdaq Capital Market at the opening of the market on July 19, 2022under the symbol “WETG”.
The Company received aggregate gross proceeds of $40 million of the Offering, before deduction of subscription discounts and other related costs. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 common shares at the public price of $4.00 per share, less underwriting discounts.
The net proceeds of the Offering will be used for the Company’s R&D and technology development, marketing and talent recruitment in Chinastrategic investment in service provider and general working capital.
The Offer was made on the basis of a firm commitment. Univest Securities, LLC acted as sole bookrunner for the Offering. Ortoli Rosenstadt LLP acted as counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as legal counsel to the underwriter in connection with the offering.
A registration statement on Form S-1 relating to the offering has been filed with the United States Securities and Exchange Commission (the “SEC”) (File Number: 333-252149) and, as amended, was declared effective by the SEC on July 18, 2022. The Offering has been made only by means of a prospectus forming part of the registration statement. A definitive prospectus relating to the Offering, filed with the SEC on July 19, 2022may be obtained from Univest Securities, LLC by e-mail at [email protected], or by standard mail at Univest Securities, LLC, 75 Rockefeller Plaza Suite 18C, New York, NY 10019. In addition, a copy of the final prospectus relating to the Offering may be obtained through the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Company, nor should such securities be offered or sold in United States absent registration or an applicable exemption from registration, there will be no offer, solicitation or sale of any of the securities of the Company in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About WeTrade Group Inc.
WeTrade Group Inc. is a technical service provider of SAAS and cloud intelligent system for micro-enterprises, and an internationalized system pioneer in the global field of micro-enterprise cloud intelligence and the leader, innovator and promoter of global smart cloud system for micro business. companies. WeTrade Group has independently developed the intelligent cloud system for micro-enterprises (abbreviation: YCloud). YCloud empowers users’ marketing relationship and CPS commission profit management with advanced technology and big data analytics. It also enables increasing payment scenarios to increase customer revenue through multi-channel data statistics, AI fission and management as well as improving supply chain system. To date, YCloud’s business has successfully landed in the mainland China and hong kong, covering micro business industry, tourism industry, hotel industry, live broadcast and short video industry, aesthetic medical industry and traditional retail industry . For more information, please visit https://ir.wetg.group.
This press release contains information about the Company’s views on its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or from those indicated by such forward-looking statements due to a variety of factors, including, but not limited to, risks and uncertainties associated with its ability to raise additional funds, its ability to maintain and grow its business, the variability of operating results, its ability to maintain and improve its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, industry competition, general government regulation, economic conditions, dependence on key personnel, ability to attract, hire and retain personnel with the technical skills and experience necessary to meet the requirements of its customers, and its ability to protect its intellectual property. The Company encourages you to consider other factors that may affect its future results in the Company’s annual reports and in its other filings with the Securities and Exchange Commission.
For more information please contact:
WeTrade Group Inc.
Investor Relations Department
Ascent Investor Relations LLC