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Webuy Global Ltd. Provides Update on Nasdaq Listing and Strategic Growth Initiatives
Globenewswire· 2025-02-13 13:00
Core Viewpoint - Webuy Global Ltd. is facing delisting from Nasdaq due to non-compliance with the minimum bid price requirement but is actively pursuing a compliance plan and expanding its AI-driven business model to enhance growth and shareholder value [2][3][6]. Nasdaq Compliance and Appeal Process - On January 22, 2025, Webuy received a delisting notice from Nasdaq for failing to meet the $1.00 minimum bid price requirement, leading to suspension of trading on January 31, 2025 [2]. - The company has formally appealed the delisting decision and is scheduled to present its compliance plan at a hearing on February 27, 2025 [3]. Reverse Stock Split and Compliance Plan - Shareholders approved a reverse stock split at the AGM on December 18, 2024, with a ratio of 1-for-10 to 1-for-40, and the Board approved a 1-for-40 split on January 15, 2025 [4]. - Following the delisting notice, Webuy's shares are now traded on the OTC market, requiring additional approval from FINRA for the reverse split, with an application submitted on February 3, 2025 [5]. Strong Business Performance and AI Expansion - Despite procedural challenges, Webuy remains financially robust, having raised $3.6 million in a registered direct offering on December 17, 2024, to enhance its AI-powered solutions in e-commerce and travel [6]. - The company is committed to regaining its Nasdaq listing and executing its AI-driven growth strategy to create long-term shareholder value [6]. About Webuy Global Ltd. - Webuy is a technology-driven company aiming to be the leading e-commerce and travel platform in Southeast Asia, utilizing advanced AI technologies to enhance its 'group buy' model and provide personalized travel solutions [7]. - The company focuses on improving customer experiences through innovations like personalized itinerary planning and predictive demand analytics [8].
Webuy Global Ltd. Receives Nasdaq Notification Regarding Non-Compliance with Minimum Bid Price Rule
Newsfilter· 2025-01-29 03:00
Core Viewpoint - Webuy Global Ltd. has received a delisting determination from Nasdaq due to non-compliance with the Minimum Bid Price Rule, which requires a minimum bid price of $1.00 per share [1][2]. Group 1: Nasdaq Compliance and Delisting - The Company failed to achieve a closing bid price of at least $1.00 per share for 10 consecutive business days within the compliance period, which included an initial 180-calendar-day period and a subsequent extension [2]. - Nasdaq has issued a Staff Delisting Determination, and trading of the Company's Class A ordinary shares will be suspended starting January 29, 2025 [1][4]. Group 2: Appeal Process - The Company plans to appeal Nasdaq's determination by requesting a hearing before a Nasdaq Hearings Panel, with the request due by 4:00 p.m. Eastern Time on January 29, 2025 [3]. - Hearings are typically scheduled to occur approximately 30-45 days after the hearing request is filed [3]. Group 3: Future Trading and Compliance Efforts - Following the suspension, the Company's Class A ordinary shares are expected to trade on OTC while awaiting the Panel's decision [4]. - The Company is committed to regaining compliance with the Minimum Bid Price Rule and will make reasonable efforts to do so, although there is no assurance of success [4][5]. Group 4: Company Overview - Webuy Global Ltd. is a technology-driven company focused on becoming a leading e-commerce and travel platform in Southeast Asia, utilizing advanced AI technologies to enhance its services [6]. - The Company aims to improve the lives of millions in Southeast Asia by providing high-quality, affordable products, services, and travel experiences [6].
Webuy Global Ltd Recognized as One of Singapore’s Fastest-Growing Companies 2025
Globenewswire· 2025-01-21 13:00
Core Insights - Webuy Global Ltd. has been recognized in Singapore's Fastest-Growing Companies 2025, highlighting its exceptional revenue growth and commitment to innovation from 2020 to 2023 [1][2] - The evaluation by The Straits Times and Statista emphasized Webuy's impressive Compound Annual Growth Rate (CAGR) and organic revenue expansion, solidifying its position as a leading enterprise in Singapore [2] Company Overview - Webuy Global Ltd. is a technology-driven company aiming to become the leading e-commerce and travel platform in Southeast Asia, utilizing advanced AI technologies to enhance its 'group buy' model [4] - The company offers personalized recommendations, predictive demand analytics, and community interactions, along with AI-powered travel solutions like its proprietary AI Travel Consultant [4] - Webuy is dedicated to improving the lives of millions in Southeast Asia by providing high-quality, affordable products, services, and travel experiences [4]
Webuy Global Ltd Recognized as One of Singapore's Fastest-Growing Companies 2025
Newsfilter· 2025-01-21 13:00
Core Insights - Webuy Global Ltd. has been recognized in Singapore's Fastest-Growing Companies 2025, highlighting its exceptional revenue growth and commitment to innovation from 2020 to 2023 [1][2] - The evaluation by The Straits Times and Statista focused on the company's impressive Compound Annual Growth Rate (CAGR) and organic revenue expansion, solidifying its position as a leading enterprise in Singapore [2] - CEO Vincent Xue Bin emphasized that this recognition reflects the dedication of the team and the trust of customers and partners, motivating the company to continue driving innovation and expanding its reach [3] Company Overview - Webuy Global Ltd. is a technology-driven company aiming to become the leading e-commerce and travel platform in Southeast Asia [4] - The company leverages advanced AI technologies to enhance its 'group buy' model, providing personalized recommendations and predictive demand analytics [4] - Webuy integrates AI-powered travel solutions, including a proprietary AI Travel Consultant, to offer personalized itineraries and real-time support, aiming to improve the lives of millions in Southeast Asia [4]
WeBuy Global Ltd Achieves Milestone Disney Cruise Sales with AI-Powered Travel Assistant, Micky1.0
Newsfilter· 2024-12-24 12:00
Core Insights - Webuy Global Ltd achieved significant success with its Disney cruise campaign, utilizing its Micky1.0 Travel AI on WhatsApp to enhance customer engagement and financial performance [1][6] - The campaign effectively directed leads to Micky1.0, which provided real-time customer support and tailored recommendations, showcasing the integration of AI technology with human expertise [2][6] Financial Achievements - The Disney campaign, conducted from December 10th to 23rd, 2024, resulted in a Receivable Booking Value (RBV) of SGD 465,527 and Booking Revenue of SGD 162,202, indicating a strong financial impact from the initiative [3] Strategic Vision - Webuy Global Ltd aims to become a leading e-commerce and travel platform in Southeast Asia by leveraging advanced AI technologies to enhance its 'group buy' model and provide personalized travel solutions [4] - The company is committed to improving the lives of families in Southeast Asia by offering high-quality, affordable products and services, including innovative travel experiences [4] Future Outlook - The CEO of Webuy Global Ltd emphasized the importance of the AI-driven approach in enhancing customer experiences and driving sales, expressing optimism about scaling Micky1.0 and similar innovations for greater value creation [6]
D. Boral Capital Acted as Exclusive Placement Agent to Webuy Global Ltd (Nasdaq: WBUY) in connection with its $3.7 Million Registered Direct Offering
Newsfilter· 2024-12-19 13:00
Core Viewpoint - Webuy Global Ltd has successfully closed a registered direct offering, raising approximately $3.7 million through the sale of 21,013,239 Class A ordinary shares at a price of $0.1756 per share [1][2]. Group 1: Offering Details - The offering involved the sale of Class A ordinary shares and prefunded warrants, with the purchase price for the prefunded warrants set at $0.1755 per share, minus an exercise price of $0.0001 per share [1]. - D. Boral Capital LLC served as the exclusive placement agent for the offering, while Ortoli Rosenstadt LLP and Hunter Taubman Fischer & Li LLC acted as legal counsel for the company and the placement agent, respectively [2]. Group 2: Regulatory Information - The offering was conducted under a "shelf" registration statement on Form F-3, which was filed with the U.S. Securities and Exchange Commission (SEC) and became effective on December 3, 2024 [3]. - A prospectus supplement detailing the terms of the offering was filed with the SEC, and copies can be accessed through the SEC's website or by contacting the placement agent [4]. Group 3: Company Overview - Webuy Global Ltd is a technology-driven e-commerce and travel platform focused on Southeast Asia, utilizing advanced AI technologies to enhance its services [6]. - The company aims to improve the shopping and travel experiences for families in Southeast Asia by offering high-quality, affordable products and services [6].
Webuy Global Ltd. Announces Closing of $3.7 Million Registered Direct Offering
Newsfilter· 2024-12-17 22:00
Core Viewpoint - Webuy Global Ltd. has successfully closed a registered direct offering, raising approximately $3.7 million through the sale of 21,013,239 Class A ordinary shares at a price of $0.1756 per share [1][2]. Group 1: Offering Details - The offering involved the sale of 21,013,239 Class A ordinary shares, with a purchase price of $0.1756 per share and pre-funded warrants priced at $0.1755 [1]. - Gross proceeds from the offering are estimated to be around $3.7 million, before deducting fees and expenses [2]. - D. Boral Capital LLC served as the exclusive placement agent for the offering, with legal counsel provided by Ortoli Rosenstadt LLP for the Company and Hunter Taubman Fischer & Li LLC for the placement agent [3]. Group 2: Regulatory Information - The offering was conducted under a "shelf" registration statement on Form F-3, which was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on December 3, 2024 [4]. - The terms of the offering were detailed in a prospectus supplement filed with the SEC, which can be accessed through the SEC's website [5]. Group 3: Company Overview - Webuy Global Ltd. is a technology-driven e-commerce and travel platform focused on Southeast Asia, utilizing advanced AI technologies to enhance its 'group buy' model and provide personalized recommendations [7]. - The Company aims to improve the lives of families in Southeast Asia by offering high-quality, affordable products and services, as well as AI-powered travel solutions [7].
Webuy Global Ltd. Announces Pricing of $3.7 Million Registered Direct Offering
Globenewswire· 2024-12-16 20:55
Core Viewpoint - Webuy Global Ltd. has entered into a securities purchase agreement to raise approximately $3.7 million through a registered direct offering of Class A ordinary shares at a price of $0.1756 per share [1][2]. Company Overview - Webuy Global Ltd. is a technology-driven e-commerce and travel platform focused on Southeast Asia, utilizing advanced AI technologies to enhance its 'group buy' model and provide personalized recommendations and predictive demand analytics [7]. - The company aims to improve the lives of millions in Southeast Asia by offering high-quality, affordable products, services, and travel experiences [7]. Offering Details - The offering involves approximately 21,013,239 Class A ordinary shares and is expected to close on or about December 17, 2024, pending customary closing conditions [1][2]. - D. Boral Capital LLC is acting as the exclusive placement agent for this offering [3]. - The offering is conducted under a shelf registration statement filed with the SEC, which was declared effective on December 3, 2024 [3].
Webuy Advances to Next Phase of NVIDIA's AI Accelerator Program
Newsfilter· 2024-12-16 12:00
Singapore, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (NASDAQ:WBUY) ("Webuy" or the "Company"), a Southeast Asian community e-commerce innovator, is excited to announce its advancement to the next phase of NVIDIA's AI Accelerator Program. This milestone reflects Webuy's commitment to leveraging advanced AI technologies to enhance its offerings and deliver exceptional value to its customers. The NVIDIA AI Accelerator Program, supported by Singapore's Economic Development Board (EDB), Tribe (a leadin ...
Webuy Advances to Next Phase of NVIDIA’s AI Accelerator Program
Globenewswire· 2024-12-16 12:00
Core Insights - Webuy Global Ltd. has advanced to the next phase of NVIDIA's AI Accelerator Program, highlighting its commitment to leveraging AI technologies for enhancing customer value [1][4][5] - The NVIDIA AI Accelerator Program, supported by Singapore's Economic Development Board and other organizations, provides startups access to advanced computing resources and expertise, aligning with Webuy's vision for innovation in e-commerce and travel [2][5] Webuy's AI-Driven Growth Strategy - Webuy is integrating AI to transform community commerce, featuring an AI Travel Consultant for personalized itineraries, Predictive Demand Analytics for inventory optimization, and Social Interaction AI to enhance community engagement [3][4] - The advancement in NVIDIA's program will support the refinement of these AI features, driving operational efficiency and customer engagement [4] Company Overview - Webuy Global Ltd. aims to be the leading e-commerce platform in Southeast Asia, utilizing a unique 'group buy' model to streamline supply chains and foster community-driven shopping experiences [6] - The company is dedicated to improving the lives of families in Southeast Asia by providing high-quality, affordable products and services [6]