Web3Labs Global plans to raise 28 million dollars through an IPO

Odaily reports that Hong Kong 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, raising about $28 million. Based on the midpoint of the issuance 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 stock code "MDAT", with Eddid Securities and Futures serving as the underwriter for this IPO. (Renaissancecapital)