EPWK Holdings (EPWK, Financial), a Chinese digital skill-sharing platform, has increased the size of its upcoming U.S. IPO. The company now plans to issue 2.8 million shares priced between $4 and $6 each, aiming to raise $14 million. Previously, EPWK intended to offer 1.5 million shares at $7 to $8 each. This adjustment could potentially raise 25% more capital than initially projected.
EPWK operates a comprehensive digital crowdsourcing marketplace, connecting "buyers" and "sellers" through an efficient search and order process. Buyers using the platform range from micro to medium-sized enterprises across various industries, while sellers include student artists, professional designers, freelance workers, and businesses with diverse talents and skills. As of June 30, 2024, EPWK's platform served approximately 8.7 million active buyers and 16.9 million sellers across over 2,800 cities and regions.
Founded in 2011, EPWK Holdings reported $20 million in revenue for the twelve-month period ending June 30, 2024. The company plans to list on the Nasdaq with the ticker EPWK. Cathay Securities and Revere Securities are the joint bookrunners for this offering.
