WASHINGTON (dpa-AFX) - Youxin Technology Ltd, a software as a service (SaaS) and platform as a service (PaaS) provider committed to helping retail enterprises digitally transform their businesses, announced that it priced its initial public offering of 2.30 million Class A ordinary shares at a public offering price of US$4.50 per Class A ordinary share.
The Class A ordinary shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on December 20, 2024 under the ticker symbol YAAS.
The company expects to receive aggregate gross proceeds of US$10.35 million from the Offering, before deducting underwriting discounts and other related expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to 345,000 additional Class A ordinary shares at the public offering price, less underwriting discounts.
The Offering is expected to close on or about December 23, 2024, subject to the satisfaction of customary closing conditions.
The company noted that it use net proceeds from the offering for research and development, including development of the Company's SaaS standard product and further investment in the Company's cloud services, investment in the Company's sales and marketing, and general corporate purposes.
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