WEBUY GLOBAL LTD January 2025 Financial Report: Debt Settlement & Share Issuance Insights

Here are the key insights extracted from the financial report of WEBUY GLOBAL LTD:

1. Type of Document: This is a Form 6-K, which is a report of a foreign private issuer submitted to the SEC.
2. Company Information:

• Name: WEBUY GLOBAL LTD
• Address: 35 Tampines Street 92, Singapore 528880
• Contact: +65 8859 9762

3. Report Date: The report is for the month of January 2025.
4. Commission File Number: 001-41840
5. Debt Settlement Agreement:

• On January 13, 2025, WEBUY GLOBAL LTD entered into a debt settlement agreement with its wholly-owned subsidiary, New Retail International Pte. Ltd., and a shareholder.
• The agreement was to settle accrued and outstanding interest amounting to $124,055.56, associated with a convertible loan between New Retail and the shareholder.
• New Retail had already repaid the principal amount of the convertible loan.

6. Issuance of Shares:

• To settle the remaining outstanding interest, the Company issued 932,849 Class A ordinary shares to the shareholder.
• The shares were issued at a price of $0.133 per share, which is 85% of the closing price of the Company on January 9, 2025.
• The shares were officially issued to the shareholder on January 14, 2025.

7. Signatory:

• The report was signed by Bin Xue, who holds the position of Chief Financial Officer of WEBUY GLOBAL LTD.
• The signing date is recorded as January 17, 2025.

Summary:

WEBUY GLOBAL LTD has settled a debt by issuing shares to a shareholder as part of a debt settlement agreement. This agreement reflects the company's strategy to manage its financial obligations efficiently while also impacting its equity structure by increasing the number of outstanding shares.