Financing ·
Wetouch Technology raises $38.8M via private placement of shares at $1.25 each to Qixun and Qihong
WETHWetouch Technology Inc.
Wetouch Technology Inc. closed a private placement of 31,037,830 shares of common stock to Qixun Technology (Samoa) Limited and Qihong Technology (Samoa) Limited on September 22, 2026. The shares were issued at $1.25 per share, generating gross proceeds of $38,797,287.50. Stockholders approved the issuance at a special meeting to comply with Nasdaq Listing Rule 5635 requirements for related party transactions. This equity financing provides capital and involves strategic investors in the technology sector.