Earlyworks, which provides blockchain technology to businesses in Japan, raised $6 million by offering 1.2 million ADSs at $5, as expected.
Through its proprietary Grid Ledger System, Earlyworks leverages blockchain technology in various business settings, including advertisement tracking, online visitor management, and sales of non-fungible tokens. The company generates revenue from software and development services and consulting services. It serves customers across a range of industries, including information technology, shipping, real estate, entertainment, cosmetics, and chemical products.
Earlyworks plans to list on the Nasdaq under the symbol ELWS. Tiger Brokers acted as sole bookrunner on the deal.
