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Tokyo, Japan, July 25, 2023 (GLOBE NEWSWIRE) — Warrantee Inc. (the “Company” or “Warrantee”), a Japanese marketing and market research technology company, today announced the pricing of its initial public offering (the “Offering”) of 2,400,000 American Depositary Shares (“ADSs”) at a public offering price of US$4.00 per ADS. Each ADS represents one common share of the Company. The ADSs have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 25, 2023 under the ticker symbol “WRNT.” The Offering is expected to close on or about July 27, 2023, subject to the satisfaction of customary closing conditions.
Prime Number Capital LLC is acting as the sole book runner for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the Company, and Winston & Strawn LLP is acting as U.S. counsel to Prime Number Capital LLC in connection with the Offering.
The Company expects to receive aggregate gross proceeds of US$9.60 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 360,000 ADSs at the public offering price, less underwriting discounts.
Proceeds from the Offering will be used for i) hiring additional employees including sales, marketing, and administrative personnel; ii) conducting promotional activities, including outbound marketing and expansion of agency network referrals; iii) general advertising and promotion, associated with expanding corporate sponsors and attracting participant users for the Company’s campaigns; and iv) working capital and other general corporate purposes.
A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-272367), as amended, and was declared effective by the SEC on June 30, 2023. The offering is being made only by means of a final…
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