Summary by Futu AI
WeBuy Global Ltd, a Southeast Asian community-oriented e-commerce retailer, is offering up to 10,000,000 Class A Ordinary shares at a fixed offering price of US$0.29 per share, representing a 22.46% discount from the last reported sale price on the Nasdaq Capital Market as of April 29, 2024. The offering is self-underwritten and intended for select investors. WeBuy Global, which focuses on grocery and travel, has experienced significant sales growth but also incurred net losses in recent years. The company's shares are listed on the Nasdaq Capital Market under the symbol 'WBUY'. The offering proceeds will be used for business expansion in Indonesia, marketing, enhancing global supply chain capabilities, and general corporate purposes. The offering is subject to customary closing conditions and may not be extended beyond 90 days from the effectiveness of the registration statement.