Webus International, which provides charter bus services and guided tours in China, raised $8 million by offering 2 million shares at $4, the low end of the range of $4 to $5.
Webus says it provides cost-effective mobility solutions with real-time AI-augmented online support and 24-7 itinerary management support through its VIE and subsidiary Wetour. The company offers commute shuttle services, customized chartered bus services, and packaged tour services to customers in China.
Webus International plans to list on the Nasdaq under the symbol WETO. Alexander Capital and Network 1 Financial Securities acted as joint bookrunners on the deal.
