09:22 AM EDT, 07/01/2025 (MT Newswires) -- Webus International ( WETO ) shares were up more than 130% premarket Tuesday after the company said it has signed a conditional securities purchase agreement with Ripple Strategy for a senior equity line of credit of up to $100 million.

The $100 million commitment will be available at Webus' ( WETO ) discretion during a 24-month period and drawdowns may range from $250,000 to $3 million per tranche, the company said.

The equity line is subject to the effectiveness of a registration statement with the US Securities and Exchange Commission and consent from Webus' ( WETO ) underwriter, the company said.

Proceeds will be used to back the growth of Webus's ( WETO ) XRP treasury strategy, Webus ( WETO ) said.