Webus International Secures $100 Million Credit Line with Ripple Strategy

According to Odaily, Webus International Limited, a U.S.-listed mobility service provider, has signed a conditional securities purchase agreement with Ripple Strategy Holdings to secure a credit line of up to $100 million in preferred equity. The agreement is subject to the effectiveness of a registration statement by the U.S. Securities and Exchange Commission (SEC) and the consent of the company's existing underwriters. Previously, Webus International disclosed its exploration of a financing strategy of up to $300 million, aiming to establish an XRP reserve fund through diversified non-equity financing tools.