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Title: Nasdaq-listed Webus inks $100M funding deal with Ripple Strategy Holdings to support XRP reserve strategy, stock jumps 130% intraday
The latest developments in the crypto space have led to an unprecedented surge of activity as Nasdaq-listed Webus International Limited has announced a whopping $100 million equity line of credit from Ripple Strategy Holdings. The massive funding round will serve as a crucial catalyst for Webus’s XRP reserve strategy, which is poised to supercharge its efforts in crypto-enabled payments, blockchain-based loyalty programs, and international expansion.
Following this bombshell announcement, the company’s stock has skyrocketed an astonishing 130% intraday, according to Yahoo Finance data. This meteoric rise underscores the immense market confidence in Webus’s new strategic partnership with Ripple Strategy Holdings.
Under the terms of the Securities Purchase Agreement, Webus will have access to a senior equity line of credit worth up to $100 million. The agreement is pending regulatory clearance and underwriter approval. Notably, the deal does not involve any affiliation or relationship between Webus and Ripple Labs, the developer of the XRP Ledger and issuer of the XRP token.
Webus CEO Nan Zheng emphasized the significance of this partnership, citing the trust instilled by Ripple Strategy Holdings in their XRP-focused strategy. By securing this substantial funding, Webus can efficiently raise capital while minimizing shareholder dilution, thereby accelerating growth across key regions such as North America and Asia-Pacific.
The Nasdaq-listed company has previously established a Delegated Digital-Asset Management Agreement with a mandate cap of up to $300 million for potential XRP treasury operations.
Source: cryptobriefing.com
