WBUY WeBuy Global Ltd

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of February 2025

 

Commission File Number: 001-41840

 

WEBUY GLOBAL LTD

35 Tampines Street 92

Singapore 528880

+65 8859 9762

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒    Form 40-F ☐

 

 

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Webuy Global Ltd. Provides Update on Nasdaq Listing and Strategic Growth Initiatives

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	WEBUY GLOBAL LTD
Date: February 13, 2025	By:	/s/ Bin Xue
		Name:	Bin Xue
		Title:	Chief Financial Officer

 

 

2

 

Exhibit 99.1

 

Webuy Global Ltd. Provides Update on Nasdaq Listing and Strategic Growth Initiatives

 

SINGAPORE, February 13, 2025 – Webuy Global Ltd. (NASDAQ: WBUY) (“Webuy” or the “Company”), a leading AI-driven e-commerce and travel platform, today provided an update regarding its Nasdaq listing status and ongoing strategic growth initiatives.

 

Nasdaq Compliance and Appeal Process

 

On January 22, 2025, Webuy received a delisting notice from Nasdaq due to non-compliance with the $1.00 minimum bid price requirement. Following the expiration of the second 180-day compliance period on January 21, 2025, Nasdaq suspended trading of the Company’s stock on January 31, 2025. As a result, Webuy’s shares are currently trading on the OTC market due to the implementation of new Nasdaq regulations that mandate immediate delisting after the second compliance period.

 

To regain its Nasdaq listing, the Company has formally appealed the decision and is scheduled to present its compliance plan at a hearing on February 27, 2025.

 

Reverse Stock Split and Compliance Plan

 

To address the bid price deficiency, Webuy Global’s shareholders approved a reverse stock split at the Company’s Annual General Meeting (AGM) on December 18, 2024, with an approved ratio ranging from 1-for-10 to 1-for-40. On January 15, 2025, the Board of Directors approved a 1-for-40 reverse stock split, and the Company immediately filed the required documents with the secretary of Cayman Islands on January 16, 2025.

 

Following the delisting notice, the Company’s shares are now on the OTC market, under which additional approval from the Financial Industry Regulatory Authority (FINRA) is required to proceed with the reverse split. Webuy submitted its FINRA application on February 3, 2025 and has been actively responding to FINRA to provide supplemental information as requested, and is expecting FINRA clearance in due course.

 

Strong Business Performance and AI Expansion

 

Despite the above procedural challenges, Webuy Global remains financially robust and is actively expanding its AI-driven business model to drive growth. On December 17, 2024, the Company successfully raised $3.6 million in a registered direct offering, which would be used to enhance its AI-powered solutions across e-commerce and travel, including:

 

●

Enhancing the AI-powered Travel Consultant for personalized itinerary planning.

 

●

Improving predictive demand analytics to optimize the group-buy model.

 

●

Strengthening community engagement through AI-driven tools.

 

Commitment to Shareholders

 

Webuy Global remains committed to regaining its Nasdaq listing and executing its AI-driven growth strategy to create long-term shareholder value. The Company will continue to update shareholders on its progress and remain dedicated to delivering innovative solutions that enhance customer experiences.

 

About Webuy Global Ltd.

 

Webuy Global Ltd. (Nasdaq: WBUY) is a forward-thinking, technology-driven company aimed at becoming the leading e-commerce platform in Southeast Asia. The Company’s unique ‘group buy’ model is designed to deliver exceptional value by streamlining the traditional supply chain and fostering a community-driven shopping experience. Webuy is committed to improving the lives of millions of families in Southeast Asia with high-quality, affordable products and services. For more information, visit http://webuy.global.

 

Forward-Looking Statements

 

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those projected due to various factors, including regulatory approvals, market conditions, and operational execution. Webuy Global Ltd. undertakes no obligation to update any forward-looking statements, except as required by law.

 

---