KOBE, Japan, May 15, 2026 (GLOBE NEWSWIRE) -- Micware Co., Ltd. (NASDAQ:MWC) (the "Company" or "Micware"), a Japan-based provider of software development services and innovative IT solutions mainly focused on the automotive and mobility sectors, today announced the closing of its upsized initial public offering (the "Offering") of 2,850,000 American Depositary Shares ("ADSs") at a public offering price of US$8.00 per ADS. Each ADS represents one ordinary share of the Company. The ADSs began trading on the Nasdaq Global Market on May 14, 2026 under the ticker symbol "MWC." The Company received aggregate gross proceeds of US$22.8 million from the Offering, before deducting underwriting discounts and offering expenses.

A.G.P./Alliance Global Partners ("A.G.P.") acted as the sole book-running manager for the Offering.

In addition to the ADSs sold in the Offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 427,500 ADSs to cover over-allotments, if any, at the public offering price, less underwriting discounts.

Proceeds from the Offering will be used for: (i) Dynamic Street Map & Market Place ("DSMM") project and the expansion of the Company's proprietary in-vehicle infotainment ("IVI") software platform, micAuto-PF; (ii) general corporate purposes; (iii) strategic investments within the Company's Software Defined Vehicles (SDV) and Location-Based Services (LBS) segments, other than the DSMM and micAuto-PF-related initiatives, that offer complementary technologies, services, or market access to strengthen the Company's competitive position; and (iv) marketing and advertising.

Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Company, and Robinson & Cole LLP acted as U.S. counsel to A.G.P. in connection with the Offering.

A registration statement on Form F-1 (File Number: 333-294081), as amended, relating to the Offering was filed with the U.S. Securities and Exchange Commission (the "SEC") and was ...