Advasa Holdings, which provides earned wage access software to employers in Japan, announced that its registration statement was declared effective by the SEC and that its common stock has been approved for listing on the Nasdaq Global Market. The Tokyo, Japan-based company expects to trade on the Nasdaq on Tuesday, August 18, under the symbol ADBT.
Advasa Holdings is a financial technology company that develops and licenses earned wage access (EWA) systems, enabling employees to access accrued wages prior to scheduled payday. Its platform integrates with employer payroll and timekeeping systems to calculate available earned wages and facilitate disbursement through bank accounts, digital wallets, or prepaid cards. The company also provides OEM services and monetizes a portfolio of domestic and international patents related to EWA technology.
As a direct listing without a firm commitment offering, there were no underwriters on the deal; instead, WestPark Capital served as financial advisor.
