Pixie Dust Technologies, Inc. (NasdaqCM: PXDT) today announced the pricing of its initial public offering of 1,666,667 American Depositary Shares, each ADS representing one common share of the Company, at a price of $9.00 per ADS. The ADSs are expected to begin trading on the Nasdaq Capital Market on August 1, 2023 under the symbol “PXDT”.
The Offering is expected to close on August 3, 2023, subject to the satisfaction of customary closing conditions. Net proceeds to the Company, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $13.8 million. The Company intends to use the net proceeds for the development and commercialization of its technologies and related products, and for other working capital and general corporate purposes.
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 250,000 ADSs, representing an additional 250,000 common shares of the Company, at the Offering price, less underwriting discounts and commissions.
Boustead Securities, LLC is acting as the lead book-running manager for the Offering.
Greenberg Traurig, LLP is acting as U.S. legal counsel to the Company and Loeb & Loeb LLP is acting as legal counsel to Boustead Securities, LLC for the Offering. Greenberg Traurig Tokyo Law Offices is acting as Japanese legal counsel to the Company.
The Offering is being conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-272476) previously filed with, and subsequently declared effective by, the U.S. Securities and Exchange Commission (the “SEC”) on July 31, 2023. The Offering is being made only by means of a prospectus. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Boustead Securities, LLC, 6 Venture, Suite 395, Irvine, California 92618, by phone at +1-949-502-4408 or by email at offerings@boustead1828.com.
This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction, including Japan.