Japanese blockchain developer EarlyWorks (ELWS) has filed for a $16M US preliminary public providing.
EarlyWorks did not specify in its submitting the quantity or value of the American Depositary Shares it intends to supply. Nevertheless, the corporate indicated in an hooked up submitting charge schedule that it was trying to increase as much as $16M.
The tech firm hopes to listing its shares on Nasdaq beneath the image ELWS. Univest is serving as lead bookrunner.
EarlyWorks has been working within the purple. For the fiscal 12 months ended April 30, it reported a internet lack of $4.6M on working income of $3.6M.
Based mostly in Tokyo, EarlyWorks has developed a proprietary blockchain expertise known as the Grid Ledger System that can be utilized for quite a lot of enterprise functions. The corporate has been notably centered on creating blockchain expertise for safer high-speed knowledge processing.
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