Webus Listed on Nasdaq Secures $100 Million to Propel XRP Strategy

On July 1, Webus International Limited (NASDAQ: WETO) announced that it had entered into a conditional securities purchase agreement with Ripple Strategy Holdings for up to $100 million. Following the announcement, the company's stock experienced a surge of over 100% in intraday trading, but eventually fell by 8%. The company, which specializes in AI-driven mobility solutions, had previously filed a Form 6-K with the SEC on June 3, outlining a plan to establish a $300 million XRP reserve. The newly secured $100 million funding agreement will be available in stages over 24 months, with disbursements ranging from $250,000 to $3 million depending on market conditions.