Core Viewpoint - Youxin Technology Ltd has successfully completed its initial public offering, raising a total of US$10.35 million by offering 2,300,000 Class A ordinary shares at a price of US$4.50 per share, with trading commencing on Nasdaq under the ticker symbol YAAS [1][4]. Group 1: Offering Details - The initial public offering consisted of 2,300,000 Class A ordinary shares priced at US$4.50 each, resulting in gross proceeds of US$10.35 million before expenses [1]. - The underwriters have a 45-day option to purchase an additional 345,000 Class A ordinary shares at the public offering price [1]. - Aegis Capital Corp. served as the sole book-running manager for the offering [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to research and development, including the development of the company's SaaS standard product and cloud services [2]. - Funds will also be used for sales and marketing investments, focusing on expanding distribution channels for current 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 aimed at assisting retail enterprises in their digital transformation through cloud-based solutions [6]. - The company offers a comprehensive suite of omnichannel digital solutions that integrate various aspects of commerce, including inventory management and e-commerce capabilities [6]. - Its products enable mid-tier brand retailers to connect management teams, distributors, salespersons, stores, and end customers across different systems and devices, utilizing real-time sales data [6].
Youxin Technology Ltd Announces Closing of $10.35 Million Initial Public Offering