Pixie Dust Technologies, a Japanese maker of consumer personal care devices and spatial materials, raised $15 million by offering 1.7 million ADSs at $9, the low end of the range of $9 to $10. The company offered 0.3 million fewer ADSs than anticipated. New and existing investors had indicated on $8.1 million worth of ADSs in the offering (54% of the deal).
Pixie Dust Technologies is focused on developing consumer personal care products and spatial materials through the utilization of mechanobiology and metamaterials. The company has launched three personal care products in Japan over the past six months: SonoRepro, an ultrasonic non-contact vibrotactile stimulation scalp care device; VUEVO, a series of directional voice arrival detection devices for individuals with deaf and hard-of-hearing; and kikippa, an acoustic stimulation device functioning as a speaker. Its products are marketed and sold as personal care products, and are neither marketed nor intended to be used as medical devices.
Pixie Dust Technologies plans to list on the Nasdaq under the symbol PXDT. Boustead Securities and Sutter Securities acted as joint bookrunners on the deal.
