Wetouch Technology raises $40M through sale of 160M shares at $0.25 each

Wetouch Technology Inc.

Sold 160,000,000 shares of common stock for aggregate purchase price of $40,000,000.
Purchase price per share is $0.25; minimum offering was 100,000,000 shares.
Net proceeds will be used for working capital, general corporate purposes, and debt repayment.
Shares sold in unregistered offering exempt under Section 4(a)(2) and/or Regulation D and Regulation S.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Wetouch Technology Inc. entered into Securities Purchase Agreement with Buyers valued at $40,000,000 (effective 2023-01-19).

Action: entry
Agreement: equity purchase
Counterparty: Buyers
Value: $40,000,000
Effective: 2023-01-19

Exact text from the filing

On January 19, 2023, Wetouch Technology Inc., a Nevada corporation (the “Company”), entered into a Securities Purchase Agreement (the “Agreement”) with the buyers indicated therein (collectively, the “Buyers”), pursuant to which the Company sold to the Buyers an aggregate of 160,000,000 shares of the common stock of the Company (the “Shares”) for an aggregate purchase price of $40,000,000, or $0.25 per share.

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Wetouch Technology Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-002442

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