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Chinese-American touch screen maker Wetouch (OTCQB:WETH) has filed again with the SEC to list its shares on Nasdaq and raise around $46 million.
Wetouch did not indicate in its filing how many shares it was seeking to offer or the price, but indicated in its presentation schedule which was trying to raise around $46 million. The selling shareholders plan to offer up to 3.9 million additional shares.
Wetouch shares are currently trading OTC under the symbol WETH. The company applied to list on Nasdaq under the same symbol and plans to conduct a reverse stock split ahead of the offering.
Craft Capital Management and RF Lafferty & Co. are acting as lead underwriters on the deal.
Incorporated in Nevada, Wetouch conducts most of its operations in China through subsidiaries. The company designs, manufactures, sells and services medium and large touch screens for the Chinese and international markets.
The company has been profitable. For the nine-month period ending September 30, Wetouch reported net income of $8.8 million on revenue of $35.4 million.
Wetouch first applied for listing in September 2021, looking to raise around $58 million. The SEC declared its filing abandoned earlier this month due to inaction.
Wetouch was approved to list its shares on the OTCQB market in March 2021.