Webuy Global Limited Announces Pricing of $15.2 Million Initial Public Offering
Lucosky Brookman is pleased to announce its role as Special Nasdaq Counsel to Webuy Global Ltd (Nasdaq: WBUY), a Southeast Asian community e-commerce retailer, in the successful pricing of its initial public offering (IPO) of 3,800,000 ordinary shares at a public offering price of $4.00 per share. The offering resulted in aggregate gross proceeds of approximately $15.2 million, prior to deducting underwriting discounts and offering expenses.
Webuy Global Ltd's IPO represents a significant milestone in the company's journey to expand its presence and enhance its offerings in the Southeast Asian e-commerce market. The IPO was conducted with the highest degree of professionalism and expertise, thanks to the invaluable legal guidance provided by Lucosky Brookman.
In addition to the initial offering, Webuy has also granted the underwriters a 45-day option to purchase up to an additional 570,000 ordinary shares at the IPO price, less underwriting discounts, to cover over-allotments, if any. The offering is expected to close on October 20, 2023, subject to customary closing conditions.
EF Hutton, a division of Benchmark Investments, LLC, acted as the sole book-running manager for the offering.
Congratulations to the Company in this significant transaction.