Apr 25, 2023

Bevilacqua PLLC Client Boustead Securities Underwrites $15 Million IPO

Going Public By Lou Bevilacqua
Bousted Technologies IPO group shot

Bevilacqua PLLC extends congratulations to our client, Boustead Securities, LLC on the successful underwriting of SYLA Technologies Co., Ltd.’s initial public offering.

SYLA, a real estate crowdfunding platform headquartered in Tokyo, Japan, offered 1,875,000 American Depositary Shares at a public price of US$8.00 per share for total gross proceeds of US$15 million.

The offering closed on April 4, 2023, and SYLA rang the Nasdaq opening bell on April 10, trading under the symbol “SYT.” SYLA plans to use the net proceeds of the offering for future investments, acquisitions, and other strategic collaborations in addition to creating and marketing new services.

Boustead Securities, LLC, an investment banking firm headquartered in Irvine, California, acted as managing underwriter and bookrunner for the IPO.

Bevilacqua PLLC acted as legal counsel to Boustead Securities for the IPO. Bevilacqua PLLC routinely acts as underwriter and issuer counsel for microcap initial public offerings, regularly represents exchange listed public companies on follow-on offerings and SEC reporting and provides them with other transactional services.

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