PicoCELA announces pricing of ADS offering
PicoCELA announced the pricing of a best-efforts public offering of 6.1M American Depositary Shares at a public offering price of 30c per ADS. The company expects to receive aggregate gross proceeds of $1.83M, before deducting placement agent commissions and other offering expenses. Each ADS represents one common share of the company. The Offering is expected to close on or about May 27, subject to the satisfaction of customary closing conditions. The company intends to use approximately 70% of the net proceeds from the Offering for working capital and general corporate purposes and approximately 30% for product development and research. Revere Securities is acting as the lead placement agent and Dominari Securities is acting as the co-placement agent in connection with the Offering.
