The Hong Kong Web3 service provider plans to offer about 6.3 million shares at $4 to $5 each, implying a valuation of roughly $141 million at the midpoint.
Web3Labs Global, a Hong Kong-based Web3 service provider, filed for an initial public offering in the United States. The company plans to sell about 6.3 million shares at an indicated price range of $4 to $5 per share, targeting proceeds of about $28 million. At the midpoint of the proposed range, the offering implies a valuation of about $141 million. The company said it intends to list its shares on Nasdaq under the ticker MDAT. An IPO gives a private company access to public capital markets, and this filing shows continued interest from digital-asset-linked businesses in using U.S. equity markets for funding.