Knorex, a Singapore-based provider of programmatic advertising software, raised the proposed deal size for its upcoming IPO on Wednesday. In its latest filing, the company also replaced sole bookrunner Maxim Group LLC with Cathay Securities.
The company now plans to raise $14 million by offering 3 million shares at a price range of $4.00 to $5.50. The company had previously filed to offer 2.5 million shares at the same range. At the midpoint, Knorex will raise 20% more in proceeds than previously anticipated.
Knorex is a B2B technology company specializing in providing programmatic advertising software to marketers to streamline and automate their advertising and marketing workflows. Its flagship product, Knorex XPOSM, is a self-service enterprise-grade, AI/ML-powered cloud platform with a comprehensive suite of advertising management and execution (AMX) applications. Since its inception, the company has expanded to the US, which has become its largest market, as well as Vietnam, India, and Malaysia.
Knorex was founded in 2009 and booked $10 million in revenue for the 12 months ended June 30, 2024. It plans to list on the NYSE American under the symbol KNRX. Cathay Securities is the sole bookrunner on the deal.
