LEIFRAS closes $5 million IPO on NASDAQ

LEIFRAS Co., Ltd. (NASDAQ: LFS) completed its initial public offering of 1,250,000 American Depositary Shares at $4.00 per ADS, according to a company statement. The Tokyo-based sports and social business company received gross proceeds of $5.0 million before underwriting discounts and offering expenses.

Each ADS represents one ordinary share of the company. The shares began trading on the Nasdaq Capital Market on October 9, 2025, under the ticker symbol "LFS." The company has granted underwriters a 45-day option to purchase up to an additional 187,500 ADSs to cover over-allotments at the public offering price, less underwriting discounts.

LEIFRAS plans to use the proceeds to invest in full-time human resources to expand market shares of its sports school and social businesses, expand its sports school business including securing sports facilities and hiring part-time school assistance, expand its social business including hiring part-time personnel, and for other working capital uses.

The offering was conducted on a firm commitment basis. Kingswood Capital Partners, LLC acted as the representative of the underwriters for the offering. Hunter Taubman Fischer & Li LLC served as U.S. counsel to the company, while Loeb & Loeb LLP acted as U.S. counsel to Kingswood.

A registration statement on Form F-1 relating to the offering was filed with the U.S. Securities and Exchange Commission and declared effective on September 29, 2025.

LEIFRAS operates sports schools and organizes sports events for children. As of December 31, 2024, the company was recognized as one of Japan's largest operators of children's sports schools in terms of both membership and facilities by Tokyo Shoko Research. The company also operates a social business sector that dispatches sports coaches to meet community needs.

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