Wetouch Technology entered into Share Purchase Agreements to sell 31,037,830 common shares at $1.25 per share to controlling shareholders Qixun Technology and Qihong Technology, for gross proceeds of $38,797,287.50. Closing is expected on or about August 4, 2026, subject to customary conditions, and the shares will be subject to a one-year lock-up. Management has discretion over the use of proceeds, which are intended to support development or acquisition of touch-screen complete systems. The offering was priced at a premium to market under Nasdaq rules.
Agreement details:
- Agreement type: Private placement of common stock
- Counterparty: Qixun Technology and Qihong Technology
- Signed / Effective: Jul 31 2026 / Aug 04 2026
- Duration / Termination: 1-year lock-up on shares
- Reason: Develop or acquire touch-screen complete systems
Original SEC Filing:
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