Youxin Technology, a Chinese provider of digital transformation software and services for retailers, raised the proposed deal size for its upcoming IPO on Friday.
The Guangzhou, China-based company now plans to raise $9 million by offering 2.3 million shares at $4. The company had previously filed to offer 2 million shares at the same price. At the revised terms, Youxin Technology will raise 15% more in proceeds than previously anticipated.
Concurrently, selling shareholders have registered 1.9 million shares via a separate resale prospectus.
Youxin is a software-as-a-service (SaaS) and platform-as-a-service (PaaS) provider focused on helping mid-tier retailers digitally transform their businesses. The company primarily generates revenue from professional services and payment channel services, and in the FY22, it had 25 professional services customers and 183 payment channel services, primarily in the consumer goods, cosmetics, and food and drink sectors.
Youxin Technology was founded in 2018 and booked $1 million in revenue for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol YAAS. Univest Securities is the sole bookrunner on the deal.
