J-Star Holding completes $5 million IPO on NASDAQ

J-Star Holding Co., Ltd. (NASDAQ: YMAT) completed its initial public offering of 1,250,000 ordinary shares at $4.00 per share, raising $5.0 million in gross proceeds before underwriting discounts and expenses.

The Taiwan-based carbon fiber and composite solutions provider began trading on the Nasdaq Capital Market on July 30, 2025. The company granted underwriter Maxim Group LLC a 45-day option to purchase up to 187,500 additional shares at the offering price, representing 15% of the shares sold in the offering.

Maxim Group LLC served as sole book-running manager for the offering. Loeb & Loeb LLP acted as counsel to J-Star, while Ellenoff Grossman & Schole LLP represented Maxim.

The offering was conducted under a Registration Statement on Form F-1 that the Securities and Exchange Commission declared effective on July 29, 2025.

J-Star operates through subsidiaries in Taiwan, Hong Kong, and Samoa, with headquarters in Taiwan. The company develops carbon reinforcement and resin systems technology for manufacturing lightweight, high-performance carbon composite products including bicycle parts, sports equipment, automobile components, and healthcare products.

The company's predecessor group was established in 1970, providing over 50 years of experience in the material composites industry, according to the press release.

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