IPO - Webus International Ltd.

Form Type: F-1/A

Filing Date: 2025-02-25

Corporate Action: Ipo

Type: Update

Accession Number: 000157587225000182

Filing Summary: This document is Amendment No. 12 to the Registration Statement on Form F-1 for Webus International Limited, filed with the SEC to amend its registration statement under the Securities Act of 1933. It officially records the filing date and indicates that it is effective as soon as practicable after the amendment has been filed. The registrant is classified as an emerging growth company and details provisions for indemnification of directors and officers as per Cayman Islands law. The amendment mainly includes filing certain exhibits and does not modify the preliminary prospectus. The document also highlights a series of recent share issuance and transfer activities of ordinary shares, including a recapitalization through a reverse share split, leading to adjustments in the share par value and outstanding shares. Furthermore, it includes detailed requirements for ongoing compliance during the registration period and specifies various undertakings relevant to securities law compliance. Notable points include the issuance of additional shares that increased the total to 35 million ordinary shares, a significant reverse share split, and provisions for indemnification of stakeholders involved in the SEC procedures, underscoring the legal frameworks governing these actions.

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Form Type: F-1/A

Filing Date: 2025-01-15

Corporate Action: Ipo

Type: New

Accession Number: 000157587225000064

Filing Summary: Webus International Ltd. is conducting an initial public offering (IPO) of 2,000,000 Ordinary Shares at an expected price between $4.00 and $5.00 per share. This amendment modifies details in the initial registration under the Securities Act of 1933, reflecting differences between a public offering prospectus and a resale prospectus. The company is registered as an 'emerging growth company' and is subject to reduced public company reporting requirements. Following a recapitalization that included the issuance of 30,000,000 Ordinary Shares to existing shareholders to increase the total from 5,000,000 to 35,000,000, a reverse share split was executed on October 31, 2024, reducing the total shares to 20,000,000 without impacting shareholder equity percentages. There are risks associated with the pricing and regulatory environment especially under Chinese law, given the operational structure via Variable Interest Entities (VIE). A filing under new overseas listing rules has been completed with the Chinese regulatory authority, which is critical for the IPO's success.

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