SIMPPLE, which provides industrial robotic cleaning equipment in Singapore, filed on Monday 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, SIMPPLE would command a market value of $74 million.
SIMPPLE provides an ecosystem solution for facilities management in Singapore, which includes autonomous robotic cleaning equipment and related software. As of 2021, the SIMPPLE Ecosystem had been adopted by 209 of 432 schools, 7 of 29 hospitals, and 4 of 6 autonomous universities in Singapore.
SIMPPLE was founded in 2016 and booked $4 million in sales for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol SPPL. The company filed confidentially on September 30, 2022. Maxim Group LLC is the sole bookrunner on the deal.
