Renaissance Capital logo

Japanese wireless tech company PicoCELA prices downsized US IPO at the $4 low end

January 16, 2025
PicoCELA logo

PicoCELA, a Japanese maker of mesh Wi-Fi access point devices, raised $7 million by offering 1.8 million ADSs at $4, the low end of the range of $4 to $6. The company offered 0.25 million fewer ADSs than anticipated.

PicoCELA is engaged in the manufacturing and installation of, and provision of services for enterprise wireless mesh solutions. The company derives its revenues mainly from two sources: sales of product equipment, under which it develops mesh Wi-Fi access point devices; and SaaS, maintenance, and other services, under which it provides a cloud portal service in a SaaS model.

PicoCELA plans to list on the Nasdaq under the symbol PCLA. Benjamin Securities and Prime Number Capital acted as joint bookrunners on the deal.