Corporate ActionMay 27, 2026, 04:17 PM
Micware IPO Over-Allotment Option Fully Exercised, Raises $3.42M
AI Summary
Micware Co., Ltd. announced the full exercise of the underwriter's over-allotment option for its initial public offering. This resulted in the sale of an additional 427,500 American Depositary Shares (ADSs) at $8.00 per ADS, generating $3,420,000 in additional gross proceeds. The total gross proceeds from the IPO, including the over-allotment, now stand at approximately $26.2 million. Proceeds will fund the DSMM project, micAuto-PF expansion, strategic investments in SDV and LBS, and marketing.
Key Highlights
- Underwriter fully exercised over-allotment option for 427,500 ADSs at $8.00 per ADS.
- Additional gross proceeds of $3,420,000 were generated from the exercise.
- Total ADSs sold in the IPO increased to 3,277,500.
- Aggregate gross proceeds from the IPO reached approximately $26.2 million.
- Proceeds will fund the Dynamic Street Map & Market Place (DSMM) project and micAuto-PF expansion.
- Funds are also allocated for strategic investments in Software Defined Vehicles (SDV) and Location-Based Services (LBS).
- The Company's ADSs began trading on the Nasdaq Global Market on May 14, 2026.
Price Impact
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