Meiwu Announces Pricing of Convertible Note Offering
29 Abril 2022 - 7:00AM
Meiwu Technology Company Limited (Fka: Wunong Net Technology
Company Limited) (“Meiwu”),
(NASDAQ: WNW), is
pleased to announce that it has signed a securities purchase
agreement (“Agreement”) with five individual investors on April 28,
2022, pursuant to which, Meiwu agreed to issue to each of the
investors a $1,100,000 unsecured promissory note (the
“
Notes”) and accompanying
warrants (the “
Warrants”) to purchase 1,600,000
ordinary shares of Meiwu, no par value each (the “
Ordinary
Shares”). The gross proceeds for this offering will be
$5,000,000 before deducting any offering expenses and costs. The
closing of this offering is expected to occur on or about May 5,
2022, subject to customary closing conditions.
Each of the Notes shall include an Original
Issue Discount of 9% and shall bear interest at the rate of 10% per
annum. The Note shall be due 18 months after its issuance date. The
Warrants will be exercisable immediately upon the date of issuance
and have an initial exercise price of $0.60. The Warrants will
expire twenty-four months from the date of issuance.
At any time following the six-month anniversary
of the issuance date, each of the Investors, at its election, can
convert the Note in whole or in part at the lower of (i) $0.50 or
(ii) 80% of the lowest daily volume-weighted average price in the
20 trading days prior to the date on which the conversion price is
measured (the “Market Price”). Notwithstanding the foregoing, in no
event that the investors will convert the Notes at a price lower
than $0.30 per share. The Note may be prepaid, at Meiwu’s sole
election, at an amount equal to 120% of the outstanding principal
and the accrued and unpaid interest.
The Notes, the Ordinary Shares underlying the
Notes, the Warrants, and Ordinary Shares issuable upon exercise of
the Warrants, are exempt from the registration requirements of the
Securities Act, pursuant to Section 4(a)(2) of the Securities Act
and/or Regulation D.
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.
The CEO of Meiwu, Mr. Xinliang Zhang commented
that: “we believe this offering provides the best attributes of
stocks and bonds, combining the long-term growth potential of
stocks and the security and income advantages of bonds. Different
from pure equity financing, convertible bonds have the pressure of
conversion or redemption during their existence. This pressure can
urge the managers of Meiwu Technology to make prudent decisions on
its investment, strive to improve business performance and maintain
good growth of the company. Since its listing, the company has been
continuously increasing its investment in product promotion and
marketing, optimizing its organizational structure and continuously
strengthening its market competitiveness. In the future, the
management will continue to strive to achieve the sustainable and
healthy development of the company, and return the benefits of our
growth with all investors.”
About Meiwu Technology Company
Limited
Meiwu Technology Company Limited is a British
Virgin Islands company incorporated on December 4, 2018, and
conduct our business in China through our subsidiaries and variable
interest entity, Wunong Technology (Shenzhen) Co., Ltd. Currently
we conduct our business through our online retail store on the
website www.wnw108.com. Optimizing the Website and real-time data,
we are able to respond to and match supply with demand for food
products in keeping with consumer trends.
Safe Harbor Statement
Certain statements made in this release are
“forward looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,”
“will,” “should,” “future,” “propose” and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside the Company’s control, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. Important
factors, among others, are: the ability to manage growth; ability
to identify and integrate other future acquisitions; ability to
obtain additional financing in the future to fund capital
expenditures; fluctuations in general economic and business
conditions; costs or other factors adversely affecting our
profitability; litigation involving patents, intellectual property,
and other matters; potential changes in the legislative and
regulatory environment; a pandemic or epidemic. The forward-looking
statements contained in this release are also subject to other
risks and uncertainties, including those more fully described in
the Company’s filings with the Securities and Exchange Commission,
which are available for review at www.sec.gov. The Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law. Such
information speaks only as of the date of this release.
ContactMeiwu Technology
Company LimitedXiaoyu LiEmail: meiwuBS@usmeiwu.com
Meiwu Technology (NASDAQ:WNW)
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