New York, July 21, 2022 (GLOBE NEWSWIRE) — Univest Securities, LLC (“Univest”), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of an underwritten public offering (the “Offering”) for its client 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. The Company received aggregate gross proceeds of US$40 million of 10,000,000 shares of its common stock at a public offering price of US$4.00 per share from this Offering, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters an option, exercisable one or more times in whole or in part, to purchase up to an additional 1,500,000 shares of its common stock at the public offering price, less underwriting discounts, within 45 days from the closing date of the Offering to cover over-allotments, if any. The Offering closed on July 21, 2022 and the Company’s common stock began trading on July 19, 2022 on The Nasdaq Capital Market under the ticker symbol “WETG.”
Net proceeds from the Offering will be used for the Company’s R&D and technology development, marketing and talent recruitment in China, strategic investment in service provider and general working capital.
The Offering was conducted on a firm…
