Wetouch Technology to sell $38.8 million of stock to controlling shareholders
Wetouch Technology Inc. agreed on July 31, 2026, to issue 31,037,830 common shares to its two controlling shareholders at $1.25 per share, for gross proceeds of $38,797,287.50. The company says it will use the proceeds to obtain touch-screen complete systems through in-house development or acquisition, and the shares carry a one-year lock-up. Closing is expected on or about August 4, 2026, subject to customary conditions.
Key points
- Buyers are Qixun Technology Limited and Qihong Technology Limited, described as the company's controlling shareholders
- Gross proceeds of $38,797,287.50 from 31,037,830 shares at $1.25 per share
- Shares are subject to a one-year lock-up; closing expected on or about August 4, 2026
- Management has sole and absolute discretion over use of proceeds, which the company says will fund touch-screen complete systems
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.