Univest Securities, LLC Announces Closing of $40 Million Public Offering of Common Stock for its Client WeTrade Group Inc. (NASDAQ: WETG) and Uplisting to Nasdaq Capital Market
July 21 2022 - 11:00PM
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 commitment
basis. Univest Securities, LLC acted as the sole book runner to the
Offering. Ortoli Rosenstadt LLP served as counsel to the Company,
and Hunter Taubman Fischer & Li LLC served as counsel to
Univest Securities, LLC in connection with the Offering.
A registration statement on Form S-1 relating to
the Offering was filed with the U.S. 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
was made only by means of a prospectus forming a part of the
registration statement. A final prospectus relating to the
Offering, filed with the SEC on July 19, 2022, may be obtained from
Univest Securities, LLC by email at info@univest.us, or by standard
mail to 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 via the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
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 any such state or jurisdiction.
About Univest
Securities, LLC
Registered with FINRA since 1994, Univest
Securities, LLC provides a wide variety of financial services to
its institutional and retail clients globally including brokerage
and execution services, sales and trading, market making,
investment banking and advisory, wealth management. It strives to
provide clients with value-add service and focuses on building
long-term relationship with its clients. For more information,
please visit: www.univest.us.
About WeTrade
Group Inc.
WeTrade Group Inc. is a technical service
provider of SAAS and Cloud Intelligent System for micro-businesses,
and a pioneering internationalized system in the global
micro-business cloud intelligence field and the leader, innovator
and promoter of the world's cloud intelligent system for
micro-businesses. WeTrade Group independently developed the cloud
intelligent system for micro-businesses (Abbreviation: YCloud).
YCloud strengthens users' marketing relationship and CPS commission
profit management through leading technology and big data analysis.
It also helps increase the payment scenarios to increase customers'
revenue by multi-channel data statistics, AI fission and management
as well as improved supply chain system. As of today, YCloud's
business has successfully landed in mainland China and Hong Kong,
covering the micro business industry, tourism industry, hospitality
industry, livestreaming and short video industry, aesthetic medical
industry and traditional retail industry. For more information,
please visit https://ir.wetg.group.
Forward-Looking Statements
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as "may, "will, "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the “Risk Factors” section of the
registration statement filed with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. Univest Securities LLC and
the Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
For more information, please contact:
Univest Securities, LLC
Edric Guo
Chief Executive Officer
75 Rockefeller Plaza, Suite 18C
New York, NY 10019
Phone: (212) 343-8888
Email: info@univest.us
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