Bullish indicating open at $55-$60, IPO prices at $37
TOKYO - Robot Consulting Co., Ltd. (NASDAQ:LAWR), a Japanese human resource solutions provider, announced Friday it has completed its initial public offering, raising $15 million by selling 3.75 million American Depositary Shares at $4 each. The stock has since declined to $3.72, marking a 7% drop from its IPO price. According to InvestingPro analysis, the company shows high price volatility and currently maintains a weak financial health score.
The company’s shares began trading on the Nasdaq Capital Market on Thursday under the ticker symbol "LAWR." Each ADS represents one ordinary share of the company.
Robot Consulting has granted underwriters a 45-day option to purchase up to an additional 562,500 ADSs at the public offering price, less underwriting discounts.
The company plans to use the net proceeds to recruit talent, invest in research and development of new and existing products, expand office facilities, and for working capital.
D. Boral Capital LLC served as the representative underwriter for the offering, with Craft Capital Management LLC acting as co-underwriter.
Robot Consulting’s main product, Labor Robot, is a cloud-based human resource management system that helps users track employee attendance, manage sales orders, and record accounting items. The company also provides consulting services for digital transformation to small and medium-sized businesses.
The firm has stated intentions to expand into legal technology and the metaverse, including development of an AI-powered legal service called Robot Lawyer.
According to the company’s press release statement, Robot Lawyer will enable users to ask metaverse-related legal questions through an AI chat interface, search legal precedents, and access lawyer matching services.
In other recent news, Robot Consulting Co., Ltd. made its debut on the Nasdaq Capital Market, with shares priced at $4 each, aligning with its initial public offering (IPO) price. The company offered 3,750,000 American Depositary Shares (ADSs), aiming to raise $15 million in gross proceeds before accounting for underwriting discounts and related expenses. Additionally, Robot Consulting has provided underwriters with a 45-day option to purchase up to 562,500 more ADSs at the public offering price, excluding underwriting discounts. This move marks a significant step for the Japanese company, which primarily focuses on human resource solutions. The offering was managed by D. Boral Capital LLC, with Craft Capital Management LLC serving as a co-underwriter. Robot Consulting has expressed plans to expand its services into legal technology and the metaverse. These developments are part of the company’s broader strategy to grow its market presence. The trading of the company’s ADSs is under the ticker symbol "NASDAQ:LAWR".
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