Advasa Holdings, Inc.
Filed Dec 9, 2025.
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A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Dec 9, 2025
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S-11 forms-1.htm S-1
As filed with the US Securities and Exchange Commission on December 8, 2025
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
(Exact name of registrant as specified in its charter)
| Delaware | 7372 | 39-3819559 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification No.) |
1-2-7 Moto-Akasake
Minato-ku, Tokyo, 107-0051 Japan
Telephone: +81-3-6868-5538
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Corporate Creations Network Inc.
1521 Concord Pike, Suite 201
Wilmington, Delaware 19803
Telephone: (302) 351-3367
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
| Laura Anthony, Esq. Craig D. Linder, Esq. Anthony, Linder & Cacomanolis, PLLC 1700 Palm Beach Lakes Blvd., Suite 820 West Palm Beach, Florida 33401 Telephone: (561) 514-0936 | M. Ali Panjwani, Esq. Pryor Cashman LLP 7 Times Square, 40th Floor New York, NY 10036 Telephone: (212) 351-2626 |
|---|
Approximate date of commencement of proposed sale to the public:
As soon as practicable after this Registration Statement is declared effective.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box.☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act.☐
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.
Explanatory Note
This registration statement on Form F-1 (File No. 333-[ ]) contains disclosure that will be circulated as two separate final prospectuses, as set forth below.
| ● | Public offering prospectus. A prospectus (the “Public Offering Prospectus”) to be used for the public offering of _____ shares of common stock of Advasa Holdings, Inc. (“Advasa,” “we,” “us,” “our,” or the “Company”) by us, based on the assumed initial public offering price of $_________ per share, which is the low end of the estimated initial public offering price range between $____ and $____ per share, through the underwriter named on the cover page thereon (the “Public Offering Common Stock”). |
| ● | Resale prospectus. A prospectus (the “Resale Prospectus”) to be used for the offer and potential resale by the selling shareholders, Taiji Ito, Spirit Advisors LLC, Atsushi Saisho, and Anthony, Linder & Cacomanolis, PLLC (the “Selling Shareholders”), of 3,000,000 shares of common stock of the Company (the “Resale Shares”), based on the assumed initial public offering price of $______ per share. |
The Resale Prospectus is substantively identical to the Public Offering Prospectus, except for the following distinctions:
| ● | it contains different front and back cover pages; among other things, the identification of the underwriter and related compensation for the Public Offering Common Stock will only be included in the Public Offering Prospectus and the Resale Shares will be listed on the front cover of the Resale Prospectus without identification of the underwriter and related compensation information; |
| ● | it contains a different section in the Prospectus Summary captioned “The Offering” relating to the offering of the Public Offering Common Stock and the Resale Shares, as applicable; such Offering section included in the Public Offering Prospectus will summarize the offering of the Public Offering Common Stock and such Offering section included in the Resale Prospectus will summarize the offering of the Resale Shares; |
| ● | it contains a different “Use of Proceeds” section, with the Use of Proceeds section included in the Resale Prospectus only indicating that the Registrant will not receive any proceeds from the sale of the Resale Shares by the Selling Shareholders that occur pursuant to this registration statement; |
| ● | it does not contain the Capitalization and Dilution sections included in the Public Offering Prospectus; |
| ● | all references in the Public Offering Prospectus to “this offering” or “this initial public offering” will be changed to “our initial public offering” and/or “the IPO,” defined as the underwritten initial public offering of our common stock, in the Resale Prospectus; |
| ● | all references in the Public Offering Prospectus to “underwriters” will be changed to “underwriters of the IPO” in the Resale Prospectus; |
| ● | the ownership percentages described in the Public Offering Prospectus will be adjusted in the Resale Prospectus to reflect the common stock sold in our initial public offering; |
| ● | a “Selling Shareholders” section is included in the Resale Prospectus; |
| ● | the “Underwriting” section from the Public Offering Prospectus is not included in the Resale Prospectus and the “Plan of Distribution” section is included only in the Resale Prospectus; and |
| ● | the Legal Matters section deletes the reference to counsel for the underwriter. |
The Registrant has included in this registration statement a set of alternate pages after the back-cover page of the Public Offering Prospectus (the “Alternate Pages”) to reflect the foregoing differences in the Resale Prospectus as compared to the Public Offering Prospectus. The Public Offering Prospectus will exclude the Alternate Pages in connection with the public offering by the Registrant. The Resale Prospectus will be substantively identical to the Public Offering Prospectus except for the addition or substitution of the Alternate Pages and will be used for the resale offering by the Selling Shareholders (it being understood that none of the common stock being registered for resale by the selling shareholders in the Resale Prospectus may be sold prior to the closing of our initial public offering under the Public Offering Prospectus, and only then in compliance with applicable laws, rules and regulations).
The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
| PRELIMINARY PROSPECTUS | SUBJECT TO COMPLETION | DATED DECEMBER 8, 2025 |
|---|
Shares of Common Stock
This is a firm commitment initial public offering of common stock, par value $0.00001 per share (“Common Stock”), of Advasa Holdings, Inc. Prior to the offering, there has been no public market for our Common Stock. We expect the initial public offering price to be between $____ and $____ per share. We are also registering 3,000,000 shares of Common Stock (the “Resale Shares”) for resale by Taiji Ito, Spirit Advisors LLC, Atsushi Saisho and Anthony, Linder & Cacomanolis, PLLC (the “Selling Shareholders”), pursuant to the prospectus to be used for the offering and potential resale of the Resale Shares (the “Resale Prospectus”). This prospectus will not be used for the offering of Resale Shares, and the Resale Prospectus will not be used for this initial public offering.
The sale of the Resale Shares in the resale offering will occur only after the closing of the initial public offering under the prospectus to be used for the public offering of Common Stock (the “Public Offering Prospectus”). The sales price to the public of the Resale Shares will initially be fixed at the same initial public offering price of the Common Stock offered in this prospectus. Following listing of our Common Stock on the Nasdaq Capital Market, the Selling Shareholders will be offering the Resale Shares pursuant to the Resale Prospectus at prevailing market prices, prices related to prevailing market prices, or privately negotiated prices. We will not receive any of the proceeds from the sale of the Common Stock shares by the Selling Shareholders.
We intend to apply to list our Common Stock on The Nasdaq Capital Market (the “Nasdaq”) under the symbol “ADBT” and this offering is contingent on the listing of our Common Stock on the Nasdaq.
Unless otherwise noted, the share and per share information in this prospectus have been adjusted to give effect to the ten-for-one (10-for-1) forward stock split (“Forward Stock Split”) of our outstanding common stock, which was effective on December 4, 2025.
We are an “emerging growth company” under the federal securities laws and, as such, we have elected to comply with certain reduced public company reporting requirements for this prospectus and future filings. See “Prospectus Summary—Implications of Being an Emerging Growth Company and a Smaller Reporting Company.”
We are a holding company and conduct our business through our operating subsidiaries in the United States and Japan.
Investing in our Common Stock involves a high degree of risk. Before buying any shares, you should carefully read the discussion of the material risks of investing in our Common Stock under the heading “Risk Factors” beginning on page 12 of this prospectus.
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these securities or passed on the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.
| Per share | Total | ||
| Initial public offering price | $ | $ | |
|---|---|---|---|
| Underwriting discounts and commissions (1) | $ | $ | |
| Proceeds, before expenses, to us | $ | $ |
| (1) | This table does not include a non-accountable expense allowance equal to 1% of the gross proceeds of this offering payable to the underwriters. For a description of the other compensation to be received by the underwriter, see “Underwriting” beginning on page 77 . |
We have granted a 45-day option to the Representative to purchase up to ______ additional shares of Common Stock from us solely to cover over-allotments, if any.
Delivery of the shares of Common Stock is expected to be made on or about __________, 2025.
Spartan Capital Securities, LLC
The date of this prospectus is , 2025
TABLE OF CONTENTS
| Page | |
|---|---|
| MARKET AND INDUSTRY DATA | 1 |
| TRADEMARKS, SERVICE MARKS AND TRADE NAMES | 1 |
| BASIS OF PRESENTATION | 1 |
| PROSPECTUS SUMMARY | 2 |
| RISK FACTORS | 12 |
| SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS | 35 |
| USE OF PROCEEDS | 36 |
| DIVIDEND POLICY | 36 |
| CAPITALIZATION | 36 |
| DILUTION | 38 |
| MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 39 |
| CORPORATE HISTORY AND STRUCTURE | 47 |
| BUSINESS | 49 |
| MANAGEMENT | 58 |
| EXECUTIVE AND DIRECTOR COMPENSATION | 62 |
| CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 70 |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 71 |
| DESCRIPTION OF SECURITIES | 72 |
| SHARES ELIGIBLE FOR FUTURE SALE | 74 |
| MATERIAL U.S. FEDERAL TAX CONSIDERATIONS FOR NON-U.S. HOLDERS OF COMMON STOCK | 75 |
| UNDERWRITING | 77 |
| LEGAL MATTERS | 84 |
| EXPERTS | 84 |
| WHERE YOU CAN FIND MORE INFORMATION | 84 |
| INDEX TO FINANCIAL STATEMENTS | F-1 |
You should rely only on the information contained in this prospectus and any free writing prospectus we may authorize to be delivered or made available to you. We have not, and the underwriters have not, authorized anyone to provide you with additional or different information from that contained in this prospectus and any free writing prospectus we have authorized. We and the underwriters take no responsibility for and can provide no assurance as to the reliability of any other information that others may give you. We are offering to sell, and seeking offers to buy, shares of Common Stock only in jurisdictions where offers and sales are permitted. The information in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of the Common Stock. Our business, financial condition, results of operations and prospects may have changed since that date. We undertake no obligation to update these statements to reflect subsequent events or circumstances, except as required by law. We acknowledge that we are responsible for updating this prospectus and any prospectus supplement to include all material information to the extent required by law.
This prospectus contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. “Risk Factors” and “Special Note Regarding Forward-Looking Statements” contain additional information regarding these risks.
For investors outside the United States: We have not, and the underwriters have not, done anything that would permit this offering, or possession or distribution of this prospectus, in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, this offering of the shares of Common Stock and the distribution of this prospectus outside of the United States. See “Underwriting.”
DEALER PROSPECTUS DELIVERY OBLIGATION
Through and including , 2025 (the 25th day after the date of the prospectus), all dealers that affect transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers’ obligation to deliver a prospectus when acting as an underwriter and with respect to their unsold allotments or subscriptions.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.