AI Assets, which provides an AI-enabled investment assistant app in Singapore, filed on Friday with the SEC to raise up to $9 million in an initial public offering.
The Singapore-based company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, AI Assets would command a market value of $74 million.
Through its wholly owned Singapore subsidiary MAXE AI, AI Assets provides financial information and market tracking services using artificial intelligence technology. MAXE AI relies on historical data and real-time analysis of major global assets' fluctuation in order to provide optimal financial information and tracking services to individual users through its AI investment assistant app "MAXE," and a tailored AI information system "TPS" for institutional users. MAXE does not provide any investment advice or trading services. The company has generated limited revenues to date.
AI Assets was founded in 2023 and plans to list on the Nasdaq under the symbol AIAS. Univest Securities is the sole bookrunner on the deal.
