SinglePoint, which is holding company with primary interests in solar and air purification equipment, revised the terms for its upcoming IPO on Wednesday. The company is currently listed on the OTC under the symbol "SING".
The Phoenix, AZ-based company now plans to raise $8 million by offering 1.6 million shares at $5. The company had previously filed to offer 1 million shares at $6. At the revised terms, SinglePoint will raise 31% more in proceeds than previously anticipated.
SinglePoint is a diversified holding company focused on providing integrated solar energy solutions and air purification technologies. The company primarily conducts business through its subsidiaries Boston Solar, a solar panel installation company, and Box Pure Air, a distributor of air purification equipment. SinglePoint also has ownership interests outside of its primary solar and air purification businesses (noncore businesses), which include an agriculture products supplier, a marketing firm focused on the solar industry, and an automotive tech company.
SinglePoint was founded in 2007 and booked $26 million in revenue for the 12 months ended March 31, 2023. It plans to list on the Nasdaq under the symbol SING. Alexander Capital is the sole bookrunner on the deal.
