PicoCELA Slips on Share Offering

PicoCELA Inc. (NASDAQ: PLCA), a Tokyo-based provider of enterprise wireless mesh solutions, today announced the pricing of a best-efforts public offering of 6,100,000 American Depositary Shares at a public offering price of $0.30 per ADS. The Company expects to receive aggregate gross proceeds of $1,830,000, before deducting placement agent commissions and other offering expenses. Each ADS represents one common share of the Company.The Offering is expected to close on or about May 27, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use approximately 70% of the net proceeds from the Offering for working capital and general corporate purposes and approximately 30% for product development and research.Revere Securities LLC is acting as the lead placement agent and Dominari Securities LLC is acting as the co-placement agent in connection with the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the Company, and Winston & Strawn LLP is acting as U.S. counsel to the placement agents in connection with the Offering. Spirit Advisors LLC is acting as the financial advisor for the Company.PicoCELA Backhaul Engine, the Company's proprietary patented wireless mesh communication technology software, eliminates the need for extensive LAN cabling and enables flexible and easy installation of Wi-Fi network devices.PLCA shares began Friday down six cents, or 10.6%, to 50 cents.