TOKYO, Jan. 20,
2025 /PRNewswire/ -- PicoCELA
Inc. ("PicoCELA" or the "Company,") (Nasdaq: PCLA), a
Tokyo-based provider of enterprise
wireless mesh solutions, today announced the closing of its
previously announced initial public offering (the "Offering") of
1,750,000 American Depositary Shares ("ADSs") at a public offering
price of $4.00 per ADS for a total of
$7,000,000 of gross proceeds to the
Company, before deducting underwriting discounts, non-accountable
expense allowance, and offering expenses. Each ADS represents one
common share of the Company. The Company has granted a 45-day
option to the underwriters to purchase up to
262,500 additional ADSs, representing 15% of the ADSs sold in
this Offering, solely to cover over-allotments, if any, at the
initial offering price, less underwriting discounts and
non-accountable expense allowance. The ADSs began trading on the
Nasdaq Capital Market on January16, 2025(US EST), under the ticker
symbol "PCLA."
Benjamin Securities, Inc. acted as a lead book-running
representative and Prime Number Capital LLC acted as a
co-underwriter in connection with this Offering. Hunter Taubman Fischer & Li LLC acted as
U.S. counsel to the Company, and Winston & Strawn LLP acted as
U.S. counsel to the underwriters in connection with the Offering.
Spirit Advisors LLC served as the financial advisor and initial
public offering consultant for the Company.
A registration statement on Form F-1, as amended (File No.
333-282931), relating to the Offering was filed with the U.S.
Securities and Exchange Commission (the "SEC") and was declared
effective by the SEC on December 20,
2024. The Offering was made only by means of a prospectus,
forming part of the effective registration statement. A copy of the
final prospectus related to the Offering may be obtained via the
SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these 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 any such state or
jurisdiction.
About PicoCELA Inc.
PicoCELA is a Tokyo-based
provider of enterprise wireless mesh solutions, specializing in the
manufacturing, installation, and services of mesh Wi-Fi access
point devices. PicoCELA Backhaul Engine, the Company's proprietary
patented wireless mesh communication technology software,
eliminates the need for extensive LAN cabling and enables flexible
and easy installation of Wi-Fi network devices. PicoCELA also
offers a cloud portal service, PicoManager, which allows users to
monitor connectivity and communication traffic, as well as install
edge-computing software on the Company's PCWL mesh Wi-Fi access
points.
Forward-Looking Statements
Statements in this press release about future expectations,
plans, and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. The words "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "plan," "potential," "predict," "project," "should,"
"target," "will," "would," and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including: the uncertainties related to market conditions,
and other factors discussed in the "Risk Factors" section of the
prospectus filed with the SEC. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and the Company specifically disclaims any obligation to update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
For investor and media inquiries, please contact:
global@picocela.com
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SOURCE PicoCELA Inc.
