PicoCELA Inc. Announces Closing of Initial Public Offering

Rhea-AI Summary

PicoCELA (Nasdaq: PCLA), a Tokyo-based provider of enterprise wireless mesh solutions, has completed its Initial Public Offering of 1,750,000 American Depositary Shares (ADSs) at $4.00 per ADS, raising $7,000,000 in gross proceeds before deducting various expenses.

The ADSs began trading on the Nasdaq Capital Market on January 16, 2025, under the ticker symbol 'PCLA'. The company has granted underwriters a 45-day option to purchase up to 262,500 additional ADSs (15% of the initial offering) to cover potential over-allotments. Benjamin Securities served as the lead book-running representative, with Prime Number Capital as co-underwriter.

Positive

• Successfully raised $7 million in gross proceeds through IPO
• Achieved Nasdaq Capital Market listing
• Secured 45-day overallotment option for additional 15% ADSs

Negative

• Relatively small IPO size might limit market liquidity
• Gross proceeds subject to reduction from various expenses and fees
• Potential dilution if overallotment option is exercised

News Market Reaction – PCLA

-2.27%

1 alert

-2.27% News Effect

On the day this news was published, PCLA declined 2.27%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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 

Logo - https://mma.prnewswire.com/media/2599954/5122090/PicoCELA_Logo.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/picocela-inc-announces-closing-of-initial-public-offering-302355205.html

SOURCE PicoCELA Inc.

FAQ

How much did PicoCELA (PCLA) raise in its January 2025 IPO?

PicoCELA raised $7 million in gross proceeds through its IPO, selling 1,750,000 ADSs at $4.00 per ADS.

When did PicoCELA (PCLA) begin trading on Nasdaq?

PicoCELA began trading on the Nasdaq Capital Market on January 16, 2025, under the ticker symbol PCLA.

What is the over-allotment option in PicoCELA's (PCLA) IPO?

PicoCELA granted underwriters a 45-day option to purchase up to 262,500 additional ADSs (15% of the initial offering) to cover over-allotments.

Who were the underwriters for PicoCELA's (PCLA) IPO?

Benjamin Securities acted as the lead book-running representative, and Prime Number Capital served as co-underwriter for the IPO.