Phaos Technology (Cayman) Holdings Ltd. (POAS) Plans to Raise $12.15 million in August 25th IPO

Phaos Technology (Cayman) Holdings Ltd. (POAS) is planning to raise $12.15 million in an initial public offering on the week of August 25th, IPO Scoop reports. The company will be issuing 2,700,000 shares at a price of $4.00-$5.00 per share.

In the last twelve months, Phaos Technology (Cayman) Holdings Ltd. generated $1.39 million in revenue and had a net loss of $1.73 million. The company has a market cap of $59.86 million.

Network 1 Financial Securities served as the underwriter for the IPO.

Phaos Technology (Cayman) Holdings Ltd. provided the following description of their company for its IPO: “We are an investment holding company; through our subsidiary, we assemble and commercialize advanced microscopy-related solutions, technologies and products. (Incorporated in the Cayman Islands) Using its patented microsphere-assisted technology, the company can significantly increase the magnification of an existing traditional optical microscope compared to its competitors, hence allowing our clients to see beyond the optical limit in an effective manner. Currently, it is the only commercially available advanced optical microscope that can see below the 200nm optical limit, within a commercially viable working distance. Our business is primarily involved in the assembling and commercialization of advanced microscopy-related solutions, technologies and products tailored for precision measurement and magnification purposes. Our range of product includes optical microscopy solutions, featuring: i) Super-resolution imagers capable of achieving imaging down to 137nm;         ii) Specialized microscopes designed to meet the diverse needs of various industries; and         iii) Three-dimensional (“3-D”) real-time image magnifiers for enhanced visualization.   Traditional optical microscopes are able to see up to 250nm, while our solution allows users to see up to 137nm. As a result, we believe that this is considered by the optical industry as a super resolution optical microscopy solution. In addition to our hardware offerings, we currently provide complimentary proprietary software, which is developed in-house. This software includes Artificial Intelligent (“AI”) components that allows our customers to perform recognition patterns for research, quality assurance and quality control (“QA/QC”), as well as diagnostics purposes. The in-house software is meticulously crafted to complement our product line ensuring seamless integration and optimized performance for our customers. For the financial years ended April 30, 2023, and April 30, 2024, the provision of microscopy products contributed to 73.9 percent and 97.6 percent of our revenue, respectively. We distribute our microscopy products with software solutions through an extensive network of distributors, primarily in Singapore and expanding across regions such as Southeast Asia and South Asia. Our microscopy solutions accommodate a diverse range of applications enabling us to serve a wide range of customer needs and capitalize on emerging growth opportunities in the region. Our diverse customer base primarily includes industries with usage in fields such as manufacturing, research & development, biomedical, semiconductors, Printed Circuit Board (“PCB”), electronics, precision engineering, injection molding, research, healthcare, QA/QC and diagnostics. Our business strategic focus involves strengthening our market position in Singapore and progressively expanding into the Southeast Asian region. Note: Net loss and revenue are in U.S. dollars for the fiscal year that ended April 30, 2024. (Note: Phaos Technology (Cayman) Holdings Ltd. filed its F-1 on Jan. 3, 2025, and disclosed the terms for its micro-cap IPO – 2.7 million shares at a price range of $4.00 to $5.00 to raise $12.15 million, if the IPO is priced at the $4.50 mid-point of its range. Following up: On March 28, 2025, in an F-1/A filing, Phaos Technology (Cayman) Holdings Ltd. disclosed that selling stockholders would offer 900,090 shares – in addition to the 2.7 million shares that Phaos Technology is offering – at the price range of $4.00 to $5.00. The company will not receive any proceeds from the sale of the selling stockholders’ shares, according to the prospectus.) “.

Phaos Technology (Cayman) Holdings Ltd. was founded in 2017 and has 24 employees. The company is located at 83 Science Park Dr, #02-01 & #04-01A/B The Curie, Singapore Science Park 1 Singapore 118258 and can be reached via phone at +65 6250 3877 or on the web at https://www.phaostech.com/.