Phaos Technology Announces Closing of Initial Public Offering
Rhea-AI Summary
Phaos Technology (NYSE American: POAS) closed its initial public offering on November 14, 2025. The Company sold 2,700,000 class A ordinary shares at an offering price of US$4.00 per share, raising US$10,800,000 in gross proceeds before underwriting discounts and offering expenses.
Certain selling shareholders sold 900,090 shares at the same price; the Company received no proceeds from those sales. Shares began trading on the NYSE American on November 13, 2025 under ticker POAS. The underwriter has a 45-day option to purchase an additional 405,000 shares (15%) to cover over-allotments, which would raise total gross proceeds to approximately US$12,420,000 if exercised in full.
Positive
- Gross proceeds of US$10.8M from company share sales
- Listing commenced on NYSE American Nov 13, 2025 under POAS
- Over-allotment option of 405,000 shares could add proceeds
Negative
- Selling shareholders sold 900,090 shares; company received no proceeds
- Initial company raise is modest at US$10.8M before fees
News Market Reaction
On the day this news was published, POAS gained 4.16%, reflecting a moderate positive market reaction. Argus tracked a peak move of +5.4% during that session. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $57M at that time.
Data tracked by StockTitan Argus on the day of publication.
SINGAPORE, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Phaos Technology Holdings (Cayman) Limited, (NYSE American: POAS), (“Phaos” or “the Company”), the investment holding company of Phaos Technology Pte. Ltd., an advanced microscopy solutions Company, today announced the closing of its previously announced initial public offering of an aggregate of 2,700,000 class A ordinary shares of the Company (the “Offering”) at a public offering price of US
The Company’s class A ordinary shares began trading on the NYSE American on November 13, 2025, under the ticker symbol “POAS”. The Company has granted the underwriter a 45-day option to purchase an additional 405,000 class A ordinary shares at the Offering Price less the underwriting discounts, solely to cover over-allotments, if any, representing
Network 1 Financial Securities, Inc. (“Network 1”), a full-service broker/dealer, acted as the sole book-running manager for the Offering. Ortoli Rosenstadt LLP acted as U.S. securities counsel to the Company and Loeb & Loeb LLP acted as U.S. counsel for Network 1, in connection with the Offering.
The Offering was conducted pursuant to the Company’s registration statement on Form F-1 (File No. 333-284137) previously filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on the November 11, 2025 (the “Effective Date”) in accordance with the provisions of Section 8(a) of the U.S. Securities Act of 1933, as amended, in a final post-effective registration statement on Form F-1 that contained the affirmative statement on the cover that such registration statement shall become effective in accordance with the provisions of section 8(a) of the U.S. Securities Act of 1933, as amended. Notice of the post-effective registration statement was filed on October 22, 2025, 20 days prior to that Effective Date. The Offering was made only by means of a prospectus, forming a part of the registration statement on Form F-1. A final prospectus relating to the Offering was filed with the SEC on November 13, 2025, and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus related to the Offering may be obtained, when available by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Network 1 at 2 Bridge Avenue, Suite 241 Red Bank, NJ 07701, or by telephone at +1 (732) 758-9001.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Phaos Technology Holdings (Cayman) Limited
Phaos Technology Holdings (Cayman) Limited is an advanced microscopy technology company. Our commitment to innovation and excellence drives us to deliver state-of-the-art microscopy products and software solutions, powered by artificial intelligence, for diverse sectors including manufacturing, biomedical, and research. Experience the difference with Phaos Technology – where innovation meets sophistication, shaping the future of optical technology. For more information, please visit www.phaostech.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
Contacts
Company Contact:
Phaos Technology Holdings (Cayman) Limited
(65) 6250 3877
ir@phaostech.com
Underwriter Inquiries:
Network 1 Financial Securities, Inc.
Adam Pasholk
2 Bridge Avenue, Suite 241
Red Bank, NJ 07701
+1 (732) 758-9001
Email: info@netw1.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
FAQ
When did Phaos Technology (POAS) begin trading on the NYSE American?
How many shares did Phaos Technology (POAS) sell in its IPO and at what price?
How much gross proceeds did Phaos Technology (POAS) raise in the IPO?
What is the POAS over-allotment option and its potential impact?
Did Phaos Technology (POAS) receive proceeds from all shares sold in the offering?
Where can investors find the final prospectus for Phaos Technology (POAS)?
