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Youxin Technology Ltd Announces Closing of $10.35 Million Initial Public Offering

GlobeNewswire LogoGlobeNewswire15h ago

Youxin Technology Ltd Announces Closing of $10.35 Million Initial Public Offering - GlobeNewswire

Quick Summary:

Net proceeds from the Offering will be used for (i) research and development, including development of the Company’s SaaS standard product and further investment in the Company’s cloud services, (ii) investment in the Company’s sales and marketing, including expanding distribution channels for existing and future market, and (iii) general corporate purposes, which may include capital expenditures, potential strategic investments and acquisitions.Aegis Capital Corp.acted as the sole book-running manager for the Offering.Kaufman & Canoles P.C.acted as the U.S.counsel to the Company, and Olshan Frome Wolosky LLP acted as the U.S.counsel to Aegis Capital Corp.

Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s statements regarding the Company’s product development and business prospects and the use of proceeds from the sale of the Company’s shares in the Offering, and can be identified by the use of words such as "may,” "will,” "expect,” "project,” "estimate,” "anticipate,” "plan,” "believe,” "potential,” "should,” "continue” or the negative versions of those words or other comparable words.

Guangzhou, China, Dec.23, 2024 (GLOBE NEWSWIRE) -- Youxin Technology Ltd (Nasdaq: YAAS) (the "Company” or "Youxin Technology”), a software as a service ("SaaS”) and platform as a service ("PaaS”) provider committed to helping retail enterprises digitally transform their businesses, today announced the closing of its initial public offering (the "Offering”) of 2,300,000 Class A ordinary shares at a public offering price of US$4.50 per Class A ordinary share.

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Article Details

Author / Journalist: Youxin Technology Ltd

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 15:49:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 852 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 24600467

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Official Website: globenewswire.com

Update Frequency: 37 posts per day

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News Last Updated: 9 hours ago

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Publisher ID: #116

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