Web3Labs Global has filed for an IPO with the U.S. Securities and Exchange Commission (SEC) with a proposed fundraising target of $28 million.

CoinFeed reported on May 16th that, according to Renaissancecapital, Web3 service provider Web3Labs Global has filed for an IPO with the U.S. Securities and Exchange Commission (SEC), planning to issue approximately 6.3 million shares at a price of $4 to $5 per share, raising approximately $28 million. Based on the midpoint of the offering range, the company's valuation in this IPO is approximately $141 million. Web3Labs Global plans to list on Nasdaq under the ticker symbol "MDAT," with Eddid Securities and Futures serving as the underwriters.