Wetouch Technology, which makes medium to large sized projected capacitive touchscreens, raised $11 million by offering 2.2 million shares at $5, the low end of the range of $5 to $7. The company offered 0.8 million fewer shares than anticipated.
The company had been listed on the OTCQB.
Wetouch, through its wholly-owned subsidiaries, is engaged in the research, development, manufacturing, sales, and servicing of medium to large sized projected capacitive touchscreens. The company specializes in large-format touchscreens, which are developed and designed for a wide variety of markets and used in the financial terminals, automotive, POS, gaming, lottery, medical, HMI, and other specialized industries. Wetouch sells its touchscreen products both domestically in China and internationally, covering areas including Taiwan, South Korea, and Germany.
Wetouch Technology plans to list on the Nasdaq under the symbol WETH. WestPark Capital, Craft Capital Management, and R.F. Lafferty & Co. acted as joint bookrunners on the deal.
