Phaos Technology Holdings, a Singapore-based provider of advanced microscopy technologies, filed on Monday with the SEC to raise up to $12 million in an initial public offering.
The company plans to raise $12 million by offering 2.7 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Phaos Technology Holdings would command a market value of $128 million.
Through its operating subsidiary, Phaos Technology is focused on the assembly and commercialization of advanced microscopy-related solutions, technologies, and products for manufacturing, biomedical, and semiconductors, among other industries. With its patented microsphere-assisted technology, the company states that it provides the only commercially available advanced optical microscope that can see below the 200nm optical limit, within a commercially viable working distance. Its range of products includes super-resolution imagers capable of achieving imaging down to 137nm, specialized microscopes designed to meet the diverse needs of various industries, three-dimensional real-time image magnifiers for enhanced visualization.
Phaos Technology Holdings was founded in 2017 and booked $1 million in revenue for the 12 months ended April 30, 2024. It plans to list on the NYSE American under the symbol POAS. The company filed confidentially on June 7, 2024. Network 1 Financial Securities is the sole bookrunner on the deal.
