PicoCELA, under the ticker PCLA, has announced the pricing for its public offering of 6.1 million American Depositary Shares (ADS), each priced at $0.30. This move is anticipated to generate gross proceeds of approximately $1.83 million, before accounting for commissions and other related expenses. In this offering, each ADS corresponds to one of the company's common shares.
The closing of this offering is expected around May 27, contingent upon the fulfillment of standard closing conditions. PicoCELA plans to allocate roughly 70% of the net proceeds to bolster working capital and support general corporate needs, while the remaining 30% will be directed toward product development and research initiatives. Revere Securities and Dominari Securities are the primary and co-placement agents, respectively, for this offering.
