WestPark Capital Announces Closing of $10.8 Million Public Offering of Common Stock for Wetouch Technology Inc (Nasdaq: WETH )

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02/28/2024 - 09:00 AM EST

LOS ANGELES--(BUSINESS WIRE)-- WestPark Capital, Inc., a full-service investment bank and securities broker-dealer, today announced the closing of a $10.8 Million public offering for Wetouch Technology Inc. (Nasdaq: WETH ). (“Wetouch” or the “Company”), is a Nevada company, through its wholly-owned subsidiary, and is engaged in the research, development, manufacturing, sales and servicing of projected capacitive touchscreens. The offering consisted of 2,160,000 shares of common stock at a price to the public of $5.00 per share (the “Offering”).

Proceeds from the Offering will be used for the construction of a new factory, facilities and office buildings, the purchase of two production lines in the new factory, research and development, the repayment of convertible promissory notes, and working capital and general corporate purposes.

WestPark Capital, Inc. served as lead book running manager for the Offering.

The shares of common stock described above were offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-270726) that was initially filed by the Company with the U.S. Securities and Exchange Commission (SEC) on March 21, 2023 and declared effective by the SEC on February 14, 2024. The Offering was made by means of a written prospectus that forms a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC and is available on the SEC’s website located at http://www.sec.gov and may also be obtained from WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA 90067, tel: 310-203-2919, e-mail: jstern@wpcapital.com.

About WestPark Capital, Inc.

WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark Capital provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements, CMPOs, RDs, ATM, SIPOs and corporate finance advisory services. Additional information about WestPark Capital is available at www.wpcapital.com or at info@wpcapital.com.

This press release shall not constitute an offer to sell or a 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.