Earlyworks Co. Ltd.
ELWS,
a Japanese blockchain company, set terms for its initial public offering on Friday with plans to offer 1.2 million American Depositary Shares priced at $4 to $6 each. The company has applied to list on Nasdaq, under the ticker “ELWS.” Univest Securities is sole underwriter on the deal. Proceeds will be used for R&D, for recruiting global talent and investing in the business. “We are a Japanese company operating our proprietary private blockchain technology, Grid Ledger System (“GLS”), to leverage blockchain technology in various applications in a range of industries,” the company says in its prospectus.
