SaaS provider Youxin Technology prices IPO at $4.50 per share

2024-12-20 13:47

Youxin Technology (NASDAQ:YAAS) priced of its initial public offering of 2.3M shares at a public offering price of $4.50 per share.
Youxin Technology Ltd is a software as a service ((SaaS)) and platform as a service ((PaaS)) provider committed to helping retail enterprises digitally transform their businesses using its cloud-based SaaS product and PaaS platform to develop, use and control business applications without the need to purchase complex IT infrastructure.
The shares have been approved for listing on Nasdaq and are expected to commence trading on December 20, 2024 under the ticker symbol “YAAS.”
The company expects to receive aggregate gross proceeds of $10.35M.
Underwriters have a 45-day option to purchase up to 345,000 additional shares.
The offering is expected to close on or about December 23, 2024.
Net proceeds will be used for research and development, including development of SaaS standard product and further investment in the company’s cloud services, (ii) investment in the company’s sales and marketing, including expanding distribution channels for existing and future market, and (iii) general corporate purposes, which may include capital expenditures, potential strategic investments and acquisitions.

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