Hangzhou, CHINA, Feb. 28, 2025 — Webus International Limited (NASDAQ: WETO), a prominent AI-powered mobility solution provider specializing in customized chauffeur services globally, announced the completion of its initial public offering (the “Offering”) of 2,000,000 ordinary shares (the “Ordinary Shares”) to the public at $4.00 each (the “Offering Price”).
The Company’s Ordinary Shares commenced trading on the Nasdaq Capital Market under the ticker symbol “WETO” on February 27, 2025.
The Offering generated gross proceeds of $8,000,000 for the Company, before accounting for underwriting discounts and other offering-related expenses. Additionally, the underwriters have been granted a 45-day option to purchase up to 300,000 additional Ordinary Shares at the Offering Price, representing 15% of the Ordinary Shares sold in the Offering (the “Over-allotment”).
If the Over-allotment option is fully exercised, the Company anticipates receiving gross proceeds of $9.2 million, prior to deducting underwriting discounts, commissions, and estimated offering expenses.
Alexander Capital, L.P. served as the sole bookrunner and co-lead underwriter, with Network 1 Financial Securities, Inc. acting as co-lead underwriter and R.F. Lafferty & Co., Inc. as co-managing underwriter. VCL Law LLP provided U.S. securities counsel to the Company, while Loeb & Loeb LLP served as U.S. securities counsel to the underwriters for the Offering. Ogier (Cayman) LLP acted as counsel to the Company regarding Cayman Islands law, and Allbright Law Offices advised the Company on PRC law.
A registration statement on Form F-1 related to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-269684), as amended, and declared effective by the SEC on February 26, 2025. The Offering is being conducted solely through a prospectus, which is part of the registration statement. Investors should review the prospectus and other documents filed or to be filed with the SEC for detailed information about the Company and the Offering before making any investment decisions. A copy of the final prospectus concerning the Offering can be obtained from Alexander Capital L.P., 10 Drs James Parker Boulevard #202, Red Bank, New Jersey 07701, Attention: Equity Capital Markets, by calling (212) 687-5650 or emailing , or by accessing the SEC’s website at .
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities. The securities will not be offered or sold in the United States without registration or an applicable exemption from registration, nor will there be any offer, solicitation, or sale of these securities in any jurisdiction where such activity would be unlawful before registration or qualification under the securities laws of that jurisdiction.
About Webus International Limited
Webus International Limited is a leading provider of AI-driven mobility solutions, specializing in premium, customizable chauffeur services worldwide. Utilizing our innovative “Mobility-as-a-Service” (MaaS) model, we deliver exceptional, personalized transportation experiences through our extensive fleet of luxury vehicles and professional chauffeurs globally.
Our flagship brand, “Wetour,” focuses on high-end customized travel services, including airport transfers, intercity transportation, private guided tours, and luxury chartered services for both leisure and business travelers. Our platform integrates real-time AI support with 24/7 multilingual itinerary management, ensuring seamless mobility solutions across all international destinations we serve. For more information, please visit our website at or .
Forward-Looking Statements
This press release contains forward-looking statements that involve plans, objectives, goals, strategies, future events or performance, underlying assumptions, and other statements that are not statements of historical facts. The use of words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters indicates forward-looking statements. These statements include, without limitation, the Company’s statements regarding the expected trading of its common stock on the Nasdaq Capital Market and the closing of the Offering. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations discussed in these statements. These statements are subject to uncertainties and risks, including those related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. Investors are cautioned not to place undue reliance on these forward-looking statements. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at . The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that occur after the date of this press release.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email:
Underwriter Inquiries:
Alexander Capital L.P.
Jonathan Gazdak, Managing Director
10 Drs James Parker Boulevard #202,
Red Bank, NJ 07701
+1 (212) 687-5650
Email:
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