Harneys advises Wunong Net Technology on its NASDAQ IPO
23 Dec 2020
Harneys acted as issuers BVI counsel to Wunong Net Technology Co Ltd. in connection with its initial public offering of 5,000,000 of its ordinary shares on the Nasdaq Capital Market. The offering was comprised of 5,000,000 ordinary shares of Wunong at a price of US$5.00 per share to the public for a total of US$25,000,000 of gross proceeds to Wunong. In addition, the underwriters have purchased 999,910 ordinary shares from a selling shareholder for US$4,999,550 for a total of US$29,999,550 in total gross proceeds from the offering. Wunong, listed as WNW, is an e-commerce company using an innovative platform to sell a myriad of green, organic, heritage, pollution-free, and non-genetically modified food products through their portfolio of trusted and well-known suppliers.
Boustead Securities, LLC and Brilliant Norton Securities Company Limited acted as lead underwriters for this firm commitment offering.
The Harneys team was led by Partner Greg Boyd with support from Associate Melissa Thomas and Paralegal Natalee Christopher. Boyd commented: “We were delighted to have worked with Wunong’ s US legal team (Sichenzia Ross Ference LLP, led by partner Benjamin A. Tan) in advising Wunong on its successful IPO - a significant milestone for the company.”