SinglePoint, a holding company with primary interests in solar and air purification equipment, announced terms for its IPO on Wednesday. The company originally filed in October 2022 but was ineligible for tracking because it planned to offer units with warrants attached.
The Phoenix, AZ-based company plans to raise $6 million by offering 1 million shares at $6, the as-converted June 15 close of its shares on the OTC (SING). At the proposed price, SinglePoint would command a fully diluted market value of $64 million.
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.
