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FUKUOKA, Japan - rYojbaba Co., Ltd. (NASDAQ:RYOJ), a Japanese labor consulting and health services company, completed its initial public offering on Thursday, raising $5 million by selling 1.25 million common shares at $4.00 each. The stock, currently trading at $2.89, has experienced significant volatility since its debut, according to InvestingPro data.
The company’s shares began trading on the Nasdaq Capital Market on Wednesday under the ticker symbol "RYOJ." The underwriters have a 45-day option to purchase up to an additional 187,500 shares to cover potential over-allotments.
rYojbaba operates 28 osteopathic clinics and two beauty salons across Japan, alongside its core labor consulting business that serves Japanese companies and labor unions.
According to the press release statement, the company plans to use the proceeds for working capital and general corporate purposes, including developing an IT platform for its consulting services, hiring additional consultants, expanding abroad, and growing its osteopathic clinics and beauty salons through acquisitions and franchising.
D. Boral Capital LLC served as the lead book-running manager for the offering, with Sutter Securities, Inc. as co-underwriter and Boustead Securities, LLC as financial advisor.
The IPO follows the company’s registration statement on Form F-1 that was declared effective by the U.S. Securities and Exchange Commission on July 31, 2025.
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