PicoCELA Inc. (PCLA), a Tokyo-based enterprise wireless mesh solutions provider, has announced the pricing of a best-efforts public offering of 6.1 million American Depositary Shares or ADSs at $0.30 per ADS.
The company expects gross proceeds of $1.83 million before deducting expenses and agent commissions. Each ADS corresponds to one common share of the company.
The offering is anticipated to close on or around May 27, 2025, pending standard closing conditions. Approximately 70 percent of the net proceeds will support working capital and general corporate activities, while the remaining 30 percent will fund product development and research.
PCLA is currently trading at $0.6001 or 7.26% higher on the Nasdaq Capital Market.
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