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NASDAQ-listed company Webus secures $100 million credit line from Ripple Strategy, may be used to establish XRP reserve
Summary: According to reports from globenewswire, NASDAQ-listed mobile transportation service provider Webus International Limited (WETO) has signed a conditional securities purchase agreement with Ripple Strategy Holdings, obtaining a credit line of up to $100 million in preferred stock. Once the registration statement with the U.S. Securities and Exchange Commission (SEC) becomes effective and receives approval from ...
According to reports from globenewswire, NASDAQ-listed mobile transportation service provider Webus International Limited (WETO) has signed a conditional securities purchase agreement with Ripple Strategy Holdings, obtaining a credit line of up to $100 million in preferred stock. Once the registration statement with the U.S. Securities and Exchange Commission (SEC) becomes effective and receives approval from the company's existing underwriters, the $100 million commitment will be disbursed at the company's discretion over a period of 24 months, with withdrawal amounts ranging from $250,000 to $3 million each time, depending on market conditions and capital needs.
On May 30th, Webus International Limited announced that they are exploring a financing strategy of up to $300 million, aiming to establish an XRP reserve through diversified non-equity financing tools.
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Link: NASDAQ-listed company Webus secures $100 million credit line from Ripple Strategy, may be used to establish XRP reserve [Copy]
