Micware prices upsized IPO at $8 per share on NASDAQ

Micware Co., Ltd. (NASDAQ: MWC), a Japan-based software development company focused on automotive and mobility sectors, announced the pricing of its upsized initial public offering at $8.00 per American Depositary Share. The company will offer 2,850,000 ADSs, with each ADS representing one ordinary share.

The offering is expected to generate gross proceeds of $22.8 million before underwriting discounts and offering expenses. Trading on the Nasdaq Global Market is scheduled to begin May 14, 2026, with the offering expected to close on or about May 15, 2026.

A.G.P./Alliance Global Partners serves as the sole book-running manager for the offering. The company has granted underwriters a 45-day option to purchase up to an additional 427,500 ADSs to cover over-allotments at the public offering price, less underwriting discounts.

According to the press release, proceeds will fund the Dynamic Street Map & Market Place project and expansion of the company's in-vehicle infotainment software platform micAuto-PF, general corporate purposes, strategic investments in Software Defined Vehicles and Location-Based Services segments, and marketing activities.

Founded in 2003, Micware develops in-vehicle infotainment systems including multimedia, navigation, human machine interface, telematics, and driver assistance technologies. The company has established relationships with major Japanese automakers including Honda Motor Co., Ltd. and Toyota Motor Corporation.

The company was ranked 9th among Japan-based Tier 1 suppliers in the IVI market by revenue as of February 28, 2024, according to a Frost & Sullivan industry report commissioned by Micware. The company operates through six entities and 12 branch offices in Japan, with subsidiaries in the United States, Thailand, and Germany.

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