Wellchange reveals $4M private placement initiative
Securities Purchase Agreement: Wellchange Holdings has entered into a securities purchase agreement on September 9 for the sale of up to 100 million Class A ordinary shares at approximately 4 cents per share.
Transaction Details: The private placement is expected to generate about $4 million in gross proceeds and was closed on September 15, with Chaince Securities serving as the sole placement agent.
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Wellchange Holdings Granted 180-Day Extension by Nasdaq to Meet Minimum Bid Price Compliance
Compliance Extension Granted: Wellchange Holdings has received a 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share, now due by April 27, 2026.
Previous Non-Compliance Notification: The company was previously notified on April 30, 2025, that it did not meet the minimum bid price requirement for 30 consecutive business days, leading to the initial compliance period.
Conditions for Compliance: To regain compliance, Wellchange's Class A ordinary shares must maintain a closing bid price of at least $1.00 for ten consecutive business days during the new compliance period.
Company Overview: Wellchange Holdings, based in Hong Kong, provides enterprise software solutions and aims to assist small and medium businesses in their digital transformation and productivity optimization.
Chaince Securities LLC Acts as Sole Placement Agent for Wellchange Holdings' (NASDAQ: WCT) $4 Million Private Placement
Private Placement Announcement: Chaince Securities LLC acted as the exclusive placement agent for Wellchange Holdings Company Limited, facilitating a private placement of 100 million Class A ordinary shares at $0.04 per share, raising $4 million in gross proceeds.
Use of Proceeds and Future Plans: Wellchange intends to use the net proceeds for general corporate purposes, including potential acquisitions and working capital, and has committed to filing a resale registration statement with the SEC within 60 days of the offering's closing.