A small Hong Kong technology firm specializing in blockchain and Web3 services is making a bold bid for American capital markets. ChainOn Group Limited has filed an F-1 registration statement with the SEC to raise approximately $31.25 million through an initial public offering on the Nasdaq Capital Market.
The company plans to sell 6,250,000 Class A ordinary shares priced between $4 and $6 each under the proposed ticker CHON. Univest Securities is serving as the underwriter.
A micro-cap with macro ambitions
ChainOn pulled in $2,209,079 in revenue during FY2025. A firm with roughly $2.2 million in annual revenue is seeking to raise more than 14 times that amount in a single public offering.
ChainOn’s FY2025 top line represented a 68.3% increase year-over-year, paired with gross margins of 55%.
