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PicoCELA is recognized for its proprietary PicoCELA Backhaul Engine, which facilitates the installation of Wi-Fi networks by eliminating the need for extensive LAN cabling. Additionally, the company offers PicoManager, a cloud service for monitoring connectivity and managing edge-computing software on its PCWL mesh Wi-Fi access points. As trading begins, InvestingPro will provide real-time financial data, valuation metrics, and technical analysis to help investors evaluate the company's market position in the competitive wireless infrastructure sector. As trading begins, InvestingPro will provide real-time financial data, valuation metrics, and technical analysis to help investors evaluate the company's market position in the competitive wireless infrastructure sector.
The company has also provided underwriters a 45-day option to purchase up to an additional 15% of the ADSs to manage over-allotments. The ADSs are expected to commence trading on the Nasdaq Capital Market today under the ticker symbol "PCLA," with the offering's closure anticipated on January 17, 2025, pending standard closing conditions.
PicoCELA plans to allocate the net proceeds from the offering towards working capital for inventory production, enhancements to products and services, and research and development of new offerings. For investors interested in detailed analysis of newly listed companies, InvestingPro offers exclusive financial metrics, growth projections, and peer comparisons to make informed investment decisions.
Benjamin Securities, Inc. is the lead book-running representative for the IPO, with Prime Number Capital LLC as the co-underwriter. Legal counsel for the company is provided by Hunter Taubman Fischer & Li LLC, while Winston & Strawn LLP represents the underwriters. Spirit Advisors LLC has been engaged as the financial advisor and IPO consultant for PicoCELA.
Investors can obtain a copy of the final prospectus related to the offering through the SEC's website once available. The company emphasizes that the press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such an offer or solicitation would be unlawful.
PicoCELA is recognized for its proprietary PicoCELA Backhaul Engine, which facilitates the installation of Wi-Fi networks by eliminating the need for extensive LAN cabling. Additionally, the company offers PicoManager, a cloud service for monitoring connectivity and managing edge-computing software on its PCWL mesh Wi-Fi access points.
The company's forward-looking statements indicate anticipated trading and closing dates, although they are subject to market conditions and other factors that could influence the actual outcomes.
This news article is based on a press release statement from PicoCELA Inc.
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