Web3Labs Global plans to raise $28 million through IPO

Odaily Planet Daily News: Hong Kong-based Web3 service provider Web3Labs Global has submitted an IPO application to the U.S. Securities and Exchange Commission (SEC), planning to issue approximately 6.3 million shares at a price of $4 to $5 per share, aiming to raise about $28 million. Based on the midpoint of the offering range, the company's valuation for this fundraising transaction is approximately $141 million. It is reported that Web3Labs Global plans to list on Nasdaq under the ticker symbol "MDAT," with Eddid Securities and Futures acting as the underwriter for this IPO. (Renaissance Capital)