Micware Co. Prices $22.8M Upsized IPO, Set for Nasdaq Global Market Listing
Micware priced an upsized IPO of 2.85 M ADS at $8 each, to raise $22.8 M before fees, with a 45-day 15% overallotment option for 427.5 K shares. Proceeds will fund DSMM project, expand micAuto-PF IVI platform, support SDV and LBS strategic investments and cover marketing plus general corporate purposes.
1. IPO Pricing and Size
Micware Co. set its upsized IPO at 2,850,000 American Depositary Shares at $8 per ADS, targeting $22.8 million in gross proceeds before underwriting discounts and offering expenses.
2. Nasdaq Listing and Timeline
The ADSs are approved for listing on the Nasdaq Global Market under the symbol MWC, with trading to commence on May 14, 2026, and the offering expected to close on or about May 15, 2026, subject to customary closing conditions.
3. Use of Proceeds
Proceeds will support the Dynamic Street Map & Market Place project, expand the proprietary micAuto-PF in-vehicle infotainment platform, fund strategic investments in Software Defined Vehicles and Location-Based Services segments, and cover marketing and general corporate purposes.
4. Underwriting and Overallotment Option
A.G.P./Alliance Global Partners is acting as sole book-running manager and holds a 45-day option to purchase up to 427,500 additional ADSs at the public offering price less underwriting discounts.