Web3Labs Global Inc. filed paperwork on Wednesday to pursue an initial public offering. The corporate structure described in the filing identifies Web3Labs as a Cayman Islands holding company that conducts substantially all of its business through a Hong Kong subsidiary, Web3hub Global Company Limited, which operates principally in Hong Kong.
The company said it intends to offer Class A ordinary shares with a par value of $0.0001 per share on a firm commitment basis. The filing sets an anticipated price band of $4.00 to $5.00 per share, though the number of shares to be offered was not disclosed in the filing.
Web3Labs has applied to list its Class A ordinary shares on the NASDAQ Capital Market under the ticker symbol MDAT. The filing makes clear that the company will not complete the offering unless the shares are successfully listed on NASDAQ, making the listing itself a condition precedent to closing the transaction.
Eddid Securities USA is identified in the filing as the underwriter for the proposed offering. Beyond naming the underwriter, the filing does not provide additional transaction details such as the aggregate number of shares or the proceeds sought.
Context and structure
The filing emphasizes the group structure: a Cayman Islands holding company that operates predominantly through a Hong Kong-based subsidiary. The subsidiary is named as the primary operating entity and is described as conducting its business principally in Hong Kong.
What is known
- Offer type: Firm commitment offering of Class A ordinary shares.
- Par value: $0.0001 per share.
- Indicative price range: $4.00 to $5.00 per share.
- Proposed listing venue and ticker: NASDAQ Capital Market, MDAT.
- Underwriter: Eddid Securities USA.
- Number of shares: Not specified in the filing.
Previous public market status
The filing notes there has been no prior public market for Web3Labs’ Class A ordinary shares. That absence of a public trading history is stated directly in the filing.
Readers should note that the filing contains limited transaction specifics. The company has tied completion of the offering to the successful listing of its shares on NASDAQ and has not furnished details on the quantity of shares to be sold.