PicoCELA Inc. Closes $1.8 Public Offering

Winston & Strawn represented Revere Securities LLC acted as the lead placement agent in connection with PicoCELA, Inc. in the closing of its public offering of 6,100,000 American Depositary Shares ("ADSs") at a public placement price of $0.30 per ADS. PicoCELA, Inc. received an aggregate gross proceeds of $1.83 million before deducting placement agent commission and other offering expenses. Each ADS represents one common share of the Company.

The Company intends to use approximately 70% of the net proceeds from the Offering for working capital and general corporate purposes and approximately 30% for product development and research.

PicoCELA is a Japan-based technology company specializing in enterprise Wi-Fi solutions leveraging dynamic mesh networking and edge computing. Its innovative platform is designed to reduce network complexity and costs for large-scale environments such as hotels, stadiums, and warehouses. The offering will support Picocela’s efforts to expand its product development and accelerate global growth.