WeBuy Global Ltd has submitted an amendment to its Registration Statement on Form F-1, known as Amendment No. 2, to the U.S. Securities and Exchange Commission (SEC) on September 20, 2024. This amendment is in response to the SEC's comments dated September 17, 2024, regarding the initial registration filed on September 12, 2024. The SEC's concerns were primarily about the conversion price of shares issuable upon conversion of a Convertible Note, which was previously set at a variable rate tied to market prices but is now fixed at $0.213 per share, subject to adjustments, and not less than the Floor Price of $0.029. WeBuy Global has revised the disclosure in the amendment to clarify the terms of conversion and repayment of the Convertible Note, distinguishing between...Show More

WeBuy Global Ltd has submitted an amendment to its Registration Statement on Form F-1, known as Amendment No. 2, to the U.S. Securities and Exchange Commission (SEC) on September 20, 2024. This amendment is in response to the SEC's comments dated September 17, 2024, regarding the initial registration filed on September 12, 2024. The SEC's concerns were primarily about the conversion price of shares issuable upon conversion of a Convertible Note, which was previously set at a variable rate tied to market prices but is now fixed at $0.213 per share, subject to adjustments, and not less than the Floor Price of $0.029. WeBuy Global has revised the disclosure in the amendment to clarify the terms of conversion and repayment of the Convertible Note, distinguishing between the rights of the Investor and the Company. The Company may repay the Convertible Note in cash, shares, or a combination thereof, with the repayment shares calculated based on 90% of the average of the 3 lowest daily VWAPs during the 20 trading days prior to the payment date. The Investor, on the other hand, has the discretion to convert the Convertible Note into Class A ordinary shares at the fixed conversion price, subject to the Floor Price.