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Wunong Net Technology Completes First Days of Trading on the Nasdaq Capital Market

Wunong Net Technology Completes First Days of Trading on the Nasdaq Capital Market with WNW Shares Closing Up

Wunong Net Technology Co. Ltd. (“Wunong”, or the “Company”), an e-commerce company using an innovative platform to sell myriad of food products, announced that its ordinary shares commenced trading on the Nasdaq Capital Market yesterday under the ticker symbol “WNW.” The shares opened at US$7.98, more than doubling to close at US$12.05 and up 141% in their Nasdaq debut.

On December 15, 2020, the Company priced its initial public offering (the “Offering”) of 5,000,000 ordinary shares at a public offering price of US$5.00 per share. The gross proceeds to the Company from the Offering were US$25,000,000, before deducting underwriting discounts, commissions and other expenses. In addition, the underwriters purchased 999,910 ordinary shares from a selling shareholder for US$4,999,550 for a total of US$29,999,550 in gross proceeds from the Offering.

Boustead Securities, LLC and Brilliant Norton Securities Company Limited acted as lead underwriters for the firm commitment Offering. Sichenzia Ross Ference LLP acted as counsel to the Company, and Ortoli Rosenstadt LLP acted as counsel to the underwriters.

The Offering was made only by means of a prospectus, which is part of the registration statement filed with the SEC that became effective on December 14, 2020. A final prospectus relating to the Offering has been filed with the SEC and is available on the SEC’s website at Copies of the prospectus may be obtained from: Boustead Securities, LLC, by email at or telephone +1 (949) 502-4408 or standard mail to Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. This does not mean that the SEC has approved, passed upon the merits, or passed upon the accuracy or completeness of the information.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.


About Wunong Net Technology Co. Ltd.

Wunong Net Technology Co. Ltd operates as an e-commerce company retailing food products. The Company sells green food, organic food, heritage food products, pollution-free products, and more. Food safety, product quality and sustainability are the company's core values. Wunong is committed to providing their customers with safe, high-quality, nutritious, tasty and non-genetically modified food products through their portfolio of trusted and well-known suppliers.

About Boustead Securities, LLC

Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the Securities and Exchange Commission.

For Investor and Media Inquiries Please Contact:

In China:

Wonderful Sky Financial Group

Natalie Lau

Tel: +852-36411360

In the United States:

Wonderful Sky Financial Group

Sana Bao

Tel: +1-917-975-5673

For Underwriter Inquiries Please Contact:

Boustead Securities, LLC

Daniel J. McClory, Head of China

Tel: +1 949 502 4409

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