Web3Labs Global Files for IPO to Raise $28 Million

Web3Labs Global, a Hong Kong-based Web3 service provider, has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) to raise up to $28 million. According to Foresight News, the company plans to issue 6.3 million shares, with a pricing range set between $4 and $5 per share. At the midpoint of this range, Web3Labs Global's market valuation would reach $141 million. Founded in 2017, Web3Labs Global reported a revenue of $2 million for the 12 months ending December 31, 2025. The company intends to list on the Nasdaq under the ticker symbol MDAT. Eddid Securities and Futures is the sole underwriter for this transaction.