UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): July 18, 2022
WeTrade Group Inc. |
(Exact name of Company as specified in charter) |
Wyoming |
| 7374 |
| N/A |
(State or other jurisdiction of incorporation or organization) |
| (Primary Standard Industrial Classification Code Number) |
| (I.R.S. Employer Identification Number) |
No 1 Gaobei South Coast, Yi An Men 111 Block 37, Chao Yang District,
Beijing City, People Republic of China 100020
+86-135-011-76409
(Address, including zip code, and telephone number, including area code, of principal executive offices)
Wyoming Registered Agent
1621 Central Ave Cheyenne, Wyoming 82001
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On July 21, 2022, Wetrade Group Inc. (the “Company”) issued a press release announcing the uplisting of its common stock to the Nasdaq Capital Market, and the closing of its initial public offering (“IPO”) of 10,000,000 shares of common stock, with no par value (the “Shares”). The Shares were priced at $4.00 per share, and the offering was conducted on a firm commitment basis. The Shares continue to trade under the stock symbol “WETG.” On July 18, 2022 and July 21, 2022, the Company issued press releases announcing the pricing and closing of the IPO, respectively. Copies of the press releases are attached hereto as Exhibit 99.1 and Exhibit 99.2 and are incorporated in this Item 7.01 by reference.
The information responsive to Item 7.01 of this Form 8-K and Exhibit 99.1 and Exhibit 99.2attached, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. |
| Description |
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104 |
| Inline XBRL for the cover page of this Current Report on Form 8-K |
2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WETRADE GROUP INC. | |||
Date: July 22, 2022 | By: | /s/ Pijun Liu | |
Pijun Liu Chief Executive Officer and Director | |||
3 |
EXHIBIT 99.1
WeTrade Group Inc. Announces Uplisting to Nasdaq Capital Market and Pricing of $40 Million Public Offering of Common Stock
Beijing, China, July 18, 2022 /PRNewswire/ -- 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, today announced the pricing of an underwritten public offering (the “Offering”) of 10,000,000 shares of its common stock at a price to the public of $4.00 per share. The offering is expected to close on or about July 21, 2022, subject to customary closing conditions.
The Nasdaq Stock Market LLC (“Nasdaq”) has approved the Company’s application for uplisting its common stock to the Nasdaq Capital Market. The Company’s common stock is expected to commence trading on the Nasdaq Capital Market at the opening of the market on July 19, 2022, under the Company’s current ticker symbol “WETG.”
The Company expects to receive aggregate gross proceeds of $40 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of its common stock at a price to the public of $4.00 per share, less underwriting discounts.
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 is being conducted on a firm commitment basis. Univest Securities, LLC is acting as the sole book runner to the Offering. Ortoli Rosenstadt LLP is acting as counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as counsel to the underwriter in connection with the Offering.
A registration statement on Form S-1 relating to the Offering was filed with the 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 is being made only by means of a prospectus forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, 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, when available, may be obtained via the SEC’s website at www.sec.gov.
Before you invest, you should read the registration statement and the preliminary prospectus contained therein and the final prospectus, when available, and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.
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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 information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. These forward-looking statements include, without limitation, the Company's statements regarding the expected trading of its common stock on the Nasdaq Capital Market and the closing of the Offering. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company's encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.
For more information, please contact:
WeTrade Group Inc.
Investor Relations Department
ir@wetradegroup.net
Ascent Investor Relations LLC
Tina Xiao
+1-917-609-0333
tina.xiao@ascent-ir.com
| 2 |
EXHIBIT 99.2
WeTrade Group Inc. Announces Uplisting to Nasdaq Capital Market and Closing of $40 Million Public Offering of Common Stock
Beijing, China, July 21, 2022 /PRNewswire/ -- 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, today announced the closing of an underwritten public offering (the “Offering”) of 10,000,000 shares of its common stock at a price to the public of $4.00 per share.
The Company’s common stock began trading on the Nasdaq Capital Market at the opening of the market on July 19, 2022, under the ticker symbol “WETG.”
The Company received aggregate gross proceeds of $40 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of its common stock at a price to the public of $4.00 per share, less underwriting discounts.
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 acted as counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as counsel to the underwriter 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 any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.
|
|
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 information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company's encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.
For more information, please contact:
WeTrade Group Inc.
Investor Relations Department
ir@wetradegroup.net
Ascent Investor Relations LLC
Tina Xiao
+1-917-609-0333
tina.xiao@ascent-ir.com
| 2 |