Core Viewpoint - Youxin Technology Ltd has announced the pricing of its initial public offering (IPO) of 2,300,000 Class A ordinary shares at a price of US$4.50 per share, aiming to raise approximately US$10.35 million before expenses [1][2]. Group 1: Offering Details - The Class A ordinary shares are set to be listed on The Nasdaq Capital Market under the ticker symbol "YAAS," with trading expected to commence on December 20, 2024 [1]. - The offering is expected to close around December 23, 2024, pending customary closing conditions [1]. - Underwriters have a 45-day option to purchase up to 345,000 additional Class A ordinary shares at the public offering price [1]. Group 2: Use of Proceeds - Net proceeds from the offering will be allocated to research and development, including the development of the Company's SaaS standard product and further investment in cloud services [2]. - Funds will also be used for sales and marketing investments, focusing on expanding distribution channels for existing and future markets [2]. - General corporate purposes may include capital expenditures and potential strategic investments or acquisitions [2]. Group 3: Company Overview - Youxin Technology Ltd is a SaaS and PaaS provider dedicated to assisting retail enterprises in their digital transformation through cloud-based solutions [7]. - The Company offers a comprehensive suite of omnichannel digital solutions that integrate various aspects of commerce, including inventory management and e-commerce capabilities [7]. - Its products enable mid-tier brand retailers to connect management teams, distributors, salespersons, stores, and end customers across systems and devices, utilizing real-time sales data [7].
Youxin Technology Ltd Announces Pricing of $10.35 Million Initial Public Offering