WNW - Meiwu prices $5M in convertible note offering

Meiwu Technology (NASDAQ:WNW) signed a securities purchase agreement with five individual investors wherein Meiwu agreed to issue to each of the investors a $1.1M unsecured promissory note and accompanying warrants to purchase 1.6M shares. Gross proceeds will be $5M. Offer closing is expected to occur on or about May 5. Each of the notes shall include an original issue discount of 9% and shall bear interest at the rate of 10% annually; notes will be due 18 months after its issuance date. The warrants will be exercisable immediately on issuance date and have an initial exercise price of $0.60; warrants will expire 24 months from issuance date. Shares trading 2.7% down premarket.

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Meiwu prices $5M in convertible note offering