ChainOn Group, a Web3 services company, has filed an F-1 registration with the SEC for a Nasdaq listing under ticker CHON, aiming to raise approximately $31.25 million. The company reported revenue of about $2.2 million for fiscal 2025, up 68.3% year-over-year, with a gross margin of 55%. It provides custom software development and blockchain solutions to Hong Kong SMEs. Proceeds will allocate 40% to R&D and tech infrastructure, and 20% to sales and marketing for expansion in Asia-Pacific and the U.S.
ChainOn Group Files for Nasdaq IPO
ChainOn Group, a Web3 services company, has submitted an F-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for a Nasdaq listing. The company plans to raise approximately $31.25 million in the offering under the ticker symbol CHON. It specializes in custom software development and blockchain solutions for small and medium-sized enterprises (SMEs) in Hong Kong.
Revenue and Growth
For fiscal 2025, ChainOn Group reported revenue of approximately $2.2 million, representing a 68.3% year-over-year increase, with a gross margin of 55%. The company's client base currently centers on Hong Kong SMEs, and the IPO proceeds are intended to fuel international expansion.
Use of Proceeds
According to the filing, 40% of the net proceeds will be allocated to research and development and technology infrastructure, 20% to sales and marketing to expand in the Asia-Pacific region and the United States, and the remainder for general corporate purposes.
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