Web3Labs Global, a Hong Kong-based Web3 service provider supporting blockchain enterprises, filed on Wednesday with the SEC to raise up to $28 million in an initial public offering.
The company plans to raise $28 million by offering 6.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Web3Labs Global would command a market cap of $141 million.
Web3Labs is a Hong Kong-based provider of Web3-related business services focused on supporting blockchain and decentralized technology enterprises, including startups. Its services include strategic consulting, startup incubation and acceleration program management, as well as operational support such as marketing, market research, and general business consulting. The company aims to help Web3 businesses develop and commercialize decentralized products and services while expanding its presence through regional hubs across Asia.
The Hong Kong-based company was founded in 2017 and booked $2 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol MDAT. Web3Labs Global filed confidentially on November 3, 2025. Eddid Securities and Futures is the sole bookrunner on the deal.
