Advasa Holdings, which provides earned wage access software to employers in Japan, completed its direct listing on the Nasdaq on Tuesday, 8/25.
In March 2026, the company raised about $16 million in a private placement at $10 per share. It opened for trading at $12 per share, reach an intraday high of $13.20 and an intraday low of $3.90, and ended the day at $6.26 (-48% from open).
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. It currently serves 12 clients (10 EWA, 1 OEM, and 1 system maintenance) primarily in Japan, and is preparing to expand into additional markets in Asia and the Middle East.
The Tokyo, Japan-based company will trade on the Nasdaq under the symbol ADBT. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, WestPark Capital served as financial advisor.
