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

Singapore, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (Nasdaq: WBUY) ("Webuy" or the "Company"), a Southeast Asian community e-commerce retailer, today announced it has entered into a definitive agreement for senior convertible debt ("Convertible Security") with an initial principal amount of $2 million, and up to an additional $4 million with an accredited institutional investor (the "Investor") upon mutual agreement. The initial conversion price of the Convertible Security is $0.213 per share, or ...