Wetouch Raises $38.8M from Controlling Shareholders
Wetouch Technology Inc. announced it will issue 31,037,830 new common shares to its existing controlling shareholder platforms, Qixun Technology Limited and Qihong Technology Limited, for total gross proceeds of approximately $38.8 million. The shares are priced at $1.25 each, representing a premium to the Nasdaq Minimum Price. The transaction, expected to close around August 4, 2026, signifies a long-term commitment from the company's founder, directors, and management team, with a 12-month lock-up on the acquired shares. The capital will be used for core business expansion, product upgrades, R&D, manufacturing enhancement, and potential strategic acquisitions, supporting the company's transformation into a provider of integrated touch solutions and intelligent terminal systems.
Key Highlights
- Wetouch to issue 31,037,830 newly issued common shares.
- Total gross proceeds of approximately $38.8 million.
- Shares sold at $1.25 per share, a premium to Nasdaq Minimum Price.
- Purchasers are existing controlling shareholder platforms, not third-party investors.
- Acquired shares are subject to a 12-month lock-up and anti-shorting restrictions.
- Proceeds will strengthen capital for business expansion, R&D, and manufacturing.
- Funds support transformation into integrated touch solutions and robotics.
Price Impact
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