STOCK TITAN

Wetouch Technology completes $38.8M share sale

Stockholders approved the issuance under Nasdaq Listing Rule 5635, and the share sale was exempt from Securities Act registration.

(Moderate)
(Negative)
Form Type
8-K

Rhea-AI Filing Summary

Wetouch Technology Inc. (WETH) completed the sale of 31,037,830 shares of common stock to Qixun Technology (Samoa) Limited and Qihong Technology (Samoa) Limited at $1.25 per share, generating gross proceeds of $38,797,287.50. The transaction closed September 22, 2026, after stockholders approved the issuance at the 2026 Special Meeting of Stockholders under Nasdaq Listing Rule 5635.

The purchase price was described as a premium to market under Nasdaq rules. The share issuance and sale were exempt from registration under Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D.

Positive

  • None.

Negative

  • None.

Filing Explained

The September 22 closing completed the sale of 31,037,830 shares; issuing additional shares increases the total share count and reduces existing holders’ percentage ownership, absent offsetting changes.

Item 3.02 Unregistered Sales of Equity Securities Securities
The company sold equity securities in a private placement or other unregistered transaction.
Common shares issued 31,037,830 shares Shares sold to Qixun Technology (Samoa) Limited and Qihong Technology (Samoa) Limited
Purchase price $1.25 per share Price paid for the common shares
Gross proceeds $38,797,287.50 Gross proceeds from the share sale
Common stock par value $0.001 per share Par value of Wetouch common stock
securities purchase agreement financial
"entered into a securities purchase agreement"
A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.
Nasdaq Listing Rule 5635 regulatory
"approved ... pursuant to the SPA in accordance with Nasdaq Listing Rule 5635"
Nasdaq Listing Rule 5635 is a stock-exchange rule that requires a listed company to get shareholder approval before issuing a large number of new shares or other securities that can convert into shares or carry voting power beyond set thresholds. Investors should care because these approvals prevent unexpected dilution of existing ownership and sudden shifts in voting control—think of it like needing agreement from current owners before cutting the pizza into many more slices that shrink each person’s piece.
Section 4(a)(2) regulatory
"exempted from the registration requirement of the Section 4(a)(2)"
Section 4(a)(2) is a part of U.S. securities laws that allows companies to sell their stock directly to certain investors without registering the sale with regulators. This process is often used for private placements, making it easier and faster for companies to raise money from knowledgeable or institutional investors. It matters to investors because it provides an alternative way to buy shares, often with fewer disclosures and lower costs.
Rule 506 of Regulation D regulatory
"Rule 506 of Regulation D thereunder"
Rule 506 of Regulation D is a U.S. Securities and Exchange Commission exemption that lets companies sell securities privately without registering them with the SEC, similar to a private party invitation rather than a public auction. It matters to investors because it determines how much information they’ll receive, who can buy (accredited vs. non-accredited), whether public advertising is allowed, and how easily the investment can be resold — all factors that affect risk, transparency and liquidity.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did WETH issue in the transaction?

Wetouch issued 31,037,830 shares of common stock at $1.25 per share, and the sale closed September 22, 2026. The purchasers were Qixun Technology (Samoa) Limited and Qihong Technology (Samoa) Limited.

How much gross proceeds did Wetouch receive from the WETH share sale?

The share sale generated $38,797,287.50 in gross proceeds. The transaction closed after stockholders approved the share issuance at the 2026 Special Meeting of Stockholders.

Was the WETH share issuance registered?

The issuance and sale were exempt from registration under Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 22, 2026

 

WETOUCH TECHNOLOGY INC.

(Exact name of registrant as specified in its charter)

 

Nevada   001-41957   20-4080330
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

No.29, Third Main Avenue, Shigao Town, Renshou County,

Meishan, Sichuan, China 620500

(Address of principal executive offices)

 

Registrant’s telephone number, including area code: (86) 28-37390666

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.001 par value   WETH   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 3.02 Unregistered Sales of Equity Securities

 

As disclosed on Wetouch Technology Inc.’s (the “Company”) Current Report on Form 8-K filed on July 31, 2026, the Company entered into a securities purchase agreement (the “SPA”) with Qixun Technology (Samoa) Limited and Qihong Technology (Samoa) Limited, pursuant to which the Company agreed to issue and sell an aggregate of 31,037,830 shares (the “Shares”) of its common stock, par value $0.001 per share, at a purchase price of $1.25 per share, which is at a premium to market under Nasdaq rules, for gross proceeds of $38,797,287.50, subject to the satisfaction of customary closing conditions.

 

The Company held its 2026 Special Meeting of Stockholders, at which the stockholders approved the issuance of the Shares to Qixun Technology (Samoa) Limited and Qihong Technology (Samoa) Limited pursuant to the SPA in accordance with Nasdaq Listing Rule 5635.

 

On September 22, 2026, the transaction contemplated by the SPA closed.

 

The issuance and sale of the Shares is exempted from the registration requirement of the Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D thereunder.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  WETOUCH TECHNOLOGY INC.
   
Date: September 23, 2026 By: /s/ Zongyi Lian
  Name:  Zongyi Lian
  Title: President and Chief Executive officer
(Principal Executive Officer)

 

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Filing Exhibits & Attachments

3 documents

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