Micware, a Japan-based developer of automotive infotainment and navigation software, lowered the proposed deal size for its upcoming IPO on Monday.
The Kobe, Japan-based company now plans to raise $17 million by offering 2.2 million ADSs at a price range of $7 to $9. The company had previously filed to offer 3.8 million ADSs at the same range. At the midpoint of the revised deal size, Micware will raise -43% less in proceeds than previously anticipated.
Micware is a Japan-based provider of software development and IT solutions focused on the automotive and mobility sectors. The company primarily develops in-vehicle infotainment (IVI) systems that support multimedia, navigation, human–machine interfaces, telematics, and driver assistance functions. It also develops navigation software and location-based services used in vehicles and smartphone applications. Founded in 2003, the company operates across Japan with additional subsidiaries in the U.S., Thailand, and Germany, and generates revenue primarily from software-defined vehicle systems, location-based services, and overseas software development services.
Micware was founded in 2003 and booked $137 million in revenue for the 12 months ended August 31, 2025. It plans to list on the Nasdaq under the symbol MWC. A.G.P. is the sole bookrunner on the deal.
