Singapore, May 01, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd (NASDAQ: WBUY) ("Webuy" or the "Company"), a Southeast Asian community e-commerce retailer, today announced the pricing of its self-underwritten offering of up to 10,000,000 of its Class A Ordinary shares, which are being offered by the Company directly to select investors at $0.29 per share.

A registration statement on Form F-1 (File No. 333-278744), was filed with the Securities and Exchange Commission ("SEC") and was declared effective on April 29, 2024.  A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov.

The offering was made only by means of a prospectus, which is available on the SEC website at: http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Webuy Global Ltd

Webuy Global Ltd (Nasdaq: WBUY) is an innovative, technology-focused company with the goal of building the most trusted retail brand and advanced e-commerce platform in Southeast Asia, designed to leverage data in order to provide a community-driven experience for consumers.  The Company's unique 'group buy' business model is set to revolutionize traditional shopping practices, by offering substantial cost savings to customers through an efficient purchasing model and community-centric approach. Akin to group purchases and bulk orders, this approach simplifies the process for customers, eliminating the need for individual bulk purchases. Furthermore, the Company’s business model streamlines the traditional supply chain by minimizing the involvement of intermediaries, thereby offering a more direct "farm-to-table" supply model.  The Company’s vision is to enable the ten million families in Southeast Asia to live a healthier, higher-quality lifestyle. Additional information about the Company is available at http://webuy.global/ 

Forward-Looking Statements

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in U.S., Singapore and Indonesia and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

Contacts

Investor Relations

Robin Yang, Partner

ICR, LLC

Email: Webuy.IR@icrinc.com

Phone: +1 (646) 880-9057