NEWS
Webuy Secures $2 Million Debt Financing Convertible at a Premium to the Current Market Price; Potential to Receive an Additional $4.0 Million Upon Mutual Agreement of the Parties
Webuy Global (Nasdaq: WBUY), a Southeast Asian community e-commerce retailer, has secured $2 million in senior convertible debt financing with potential for an additional $4 million. The initial conversion price is set at $0.213 per share, representing a 150% premium to the current market price. The notes bear zero interest with monthly payments in cash or stock at the company's discretion.
CEO Vincent Xue Bin stated that this investment demonstrates confidence in Webuy's business model and growth potential. The company plans to use the funds to accelerate its expansion strategy and roll out new products and services across Southeast Asia. Webuy believes its projected cash flow will enable repayment of a significant portion of the amortization payments in cash, potentially minimizing shareholder dilution.
CEO Vincent Xue Bin stated that this investment demonstrates confidence in Webuy's business model and growth potential. The company plans to use the funds to accelerate its expansion strategy and roll out new products and services across Southeast Asia. Webuy believes its projected cash flow will enable repayment of a significant portion of the amortization payments in cash, potentially minimizing shareholder dilution.
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