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iOThree (NASDAQ: IOTR) has announced that its F.R.I.D.A.Y Planned Maintenance System (PMS) has received class approval from ClassNK, validating its compliance with functional requirements for PMS software. The cloud-driven solution is designed to digitize maintenance workflows and enhance fleet-wide efficiency in maritime operations.
The system features a carbon reporting module for emissions monitoring and includes:
- Cloud-first architecture requiring minimal on-premise infrastructure
- Modular and lightweight design for seamless fleet deployment
- Real-time data accessibility and updates
- Integration with existing vessel infrastructure
As part of iO3's cloud-native maritime ERP suite, F.R.I.D.A.Y PMS aims to simplify maintenance processes, enhance operational agility, and optimize long-term asset reliability while supporting environmental compliance.
iOThree (NASDAQ: IOTR), a Singapore-based maritime digital technologies provider, has successfully completed its Initial Public Offering (IPO). The company offered 2,100,000 ordinary shares at $4.00 per share, with 1,650,000 shares sold by the company and 450,000 by selling shareholders.
The IPO generated total gross proceeds of $8.4 million, with the company receiving $6.6 million and selling shareholders $1.8 million. Trading began on April 10, 2025, on the Nasdaq Capital Market. The company granted underwriters a 45-day option to purchase up to 247,500 additional shares.
The net proceeds will fund:
- Solution development for JARVISS expansion
- Maritime organization class approvals for digital applications
- Marketing and branding initiatives
- Working capital and general corporate purposes
iOThree , a Singapore-based maritime digital technologies provider, has announced the pricing of its Initial Public Offering (IPO) on the Nasdaq Capital Market under ticker IOTR. The company is offering 2,100,000 ordinary shares at $4.00 per share, comprising 1,650,000 shares from the company and 450,000 from selling shareholders.
The company expects to raise $6.6 million in gross proceeds, with net proceeds of approximately $4.6 million after deductions. An additional 45-day over-allotment option for 247,500 shares has been granted to underwriters. Trading is set to commence on April 10, 2025, with closing expected on April 11, 2025.
The net proceeds will fund solution development for JARVISS, maritime organization class approvals, marketing initiatives, and working capital purposes. Eddid Securities USA Inc. leads the underwriting, with Network 1 Financial Securities, Inc. as co-underwriter.
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