J-Star Holding Announces Pricing of $5.0 Million Initial Public Offering

Rhea-AI Summary

J-Star Holding (NASDAQ:YMAT), a leading provider of carbon fiber and composite solutions, has announced the pricing of its Initial Public Offering (IPO). The company is offering 1,250,000 ordinary shares at $4.00 per share, aiming to raise approximately $5.0 million in gross proceeds before deducting underwriting costs and expenses.

The shares are set to begin trading on the Nasdaq Capital Market on July 30, 2025, under the ticker symbol "YMAT". The company has granted Maxim Group LLC, the sole Book-Running manager, a 45-day option to purchase up to an additional 187,500 shares at the IPO price. The offering is expected to close on July 31, 2025, subject to customary conditions.

Positive

• Entry into public markets provides access to capital markets for future growth
• Diverse product portfolio across multiple industries including sports equipment, healthcare, and automotive
• Strategic positioning in the growing carbon fiber and composite materials market

Negative

• Relatively small IPO size of $5.0 million may limit growth potential
• Potential dilution if over-allotment option is exercised

Insights

IPO Financial Analyst

J-Star's $5M IPO at $4/share provides modest capital but achieves public listing milestone for the Taiwan-based carbon fiber company.

J-Star Holding's $5 million IPO represents a relatively small public offering in today's market. With shares priced at $4.00 and 1.25 million shares being offered, this Taiwan-based carbon fiber solutions provider is making a modest entry into the public markets. The company has structured a standard offering with a 45-day over-allotment option for underwriters to purchase an additional 187,500 shares.

The $5 million gross proceeds (before deducting underwriting commissions and expenses) provides J-Star with some additional capital, but is considerably smaller than typical technology or manufacturing IPOs we've seen recently. This suggests the company may be focused on achieving the benefits of public listing status rather than primarily raising substantial growth capital.

The selection of Maxim Group as the sole book-running manager indicates a boutique approach to this offering. Maxim typically handles smaller IPOs compared to bulge bracket firms, which aligns with the offering size. Trading under the symbol "YMAT" on the Nasdaq Capital Market positions the company on a growth-oriented exchange that has less stringent listing requirements than the Nasdaq Global Market.

For context, J-Star's business spans multiple applications of carbon fiber technology - from sports equipment to healthcare products and automotive components - which provides some diversification in their revenue streams. However, without financial metrics included in this release, it's difficult to assess their current scale or how meaningful this capital raise will be to their operations.

TAICHUNG CITY, Taiwan, July 29, 2025 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (“J-Star” or the “Company”), a leading provider of innovative carbon fiber and composite solutions across a wide range of applications including personal sports equipment, healthcare products, automobile parts, resin systems, and research and development services, today announced the pricing of its public offering of an aggregate 1,250,000 ordinary shares of the Company (the “Offering”). The offering is priced at $4.00 per share (the “Offering Price”).

In addition, the Company has granted Maxim (as defined below) a 45-day option to purchase up to an additional 187,500 share of its ordinary shares at the initial public offering price (the “Over-allotment”).

Assuming that the Over-allotment is not exercised, the gross proceeds to J-Star from the Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by J-Star, are expected to be approximately $5.0 million.

The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “YMAT” on July 30, 2025. The Offering is expected to close on July 31, 2025, subject to the satisfaction of customary closing conditions.

Maxim Group LLC (“Maxim”) is the sole Book-Running manager for the Offering. Loeb & Loeb LLP is acting as counsel to the Company, and Ellenoff Grossman & Schole LLP is acting as counsel to Maxim for the Offering.

The Offering is being conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-286805), as amended, and was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on July 29, 2025. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16^th Floor, New York, NY 10022, by phone at +1 (212) 895-3500, or by email at syndicate@maximgrp.com. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made 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 other jurisdiction.

About J-Star Holding Co., Ltd.

J-Star (NASDAQ: YMAT) is a holding company with operations conducted through subsidiaries in Taiwan, Hong Kong, and Samoa with its headquarters in Taiwan. J-Star’s predecessor group was established in 1970, and has accumulated over 50 years of know-how in material composites industry. J-Star develops and commercializes the technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, J-Star is able to apply its expertise and technology to design and manufacture a great variety of lightweight, high-performance carbon composite products, ranging from key structural parts of electric bicycles and sports bicycles, rackets, automobile parts to healthcare products.

FORWARD-LOOKING STATEMENTS

Certain statements contained 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. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. 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 the completion of the Offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and J-Star specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Matt Chesler, CFA
FNK IR
646-809-2183
investor@j-starholding.com

FAQ

What is the IPO price for J-Star Holding (YMAT) shares?

J-Star Holding has priced its IPO at $4.00 per share, offering 1,250,000 ordinary shares.

When will YMAT stock begin trading on the Nasdaq?

J-Star Holding (YMAT) shares are scheduled to begin trading on the Nasdaq Capital Market on July 30, 2025.

How much money is J-Star Holding (YMAT) raising in its IPO?

J-Star Holding aims to raise approximately $5.0 million in gross proceeds from the IPO, before deducting underwriting discounts and offering expenses.

What does J-Star Holding (YMAT) do as a company?

J-Star Holding is a provider of carbon fiber and composite solutions for various applications including sports equipment, healthcare products, automobile parts, resin systems, and R&D services.

Who is the underwriter for the J-Star Holding (YMAT) IPO?

Maxim Group LLC is serving as the sole Book-Running manager for the IPO.