Wetouch Technology, which makes medium to large sized projected capacitive touchscreens, revived its Nasdaq uplisting on Tuesday, disclosing plans to raise up to $46 million. The company is currently listed on the OTCQB (WETH).
It had previously filed to raise up to $62 million in September 2021, but the company's IPO was declared abandoned by the SEC earlier this month. In its latest filing, Wetouch Technology also disclosed updated financials for the 9mo22, updated its employee headcount, and announced several changes to the composition of its board of directors.
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 was founded in 1992 and booked $39 million in sales for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol WETH. Craft Capital Management and R.F. Lafferty & Co. are the joint bookrunners on the deal. No pricing terms were disclosed.
