Phaos Technology Cayman (Holdings) Ltd. (POAS) of Singapore priced its micro-cap IPO at $4.00 – the low end of its $4.00-to-$5.00 range – and sold 2.7 million shares – the number in the prospectus – to raise $10.8 million on Wednesday night, Nov. 12, 2025. In addition selling shareholders sold 900,090 shares at $4.00 each and their proceeds totaled $3.6 million. The company will not receive any proceeds from the sale of the selling shareholders’ stock. Phaos Technology’s IPO raised a total of $14.4 million.
At pricing, Phaos Technology had a market cap of $53.8 million.
Phaos Technology Cayman (Holdings) Ltd. (POAS) slid at the opening to $3.70 – down 30 cents from its IPO price -in its debut today – Thursday, Nov. 13, 2025 – on the NYSE – American Exchange (NYSE-AmEx). But the stock eventually found its footing. By early afternoon, Phaos Technology’s stock was trading at $4.22 – up 22 cents from its IPO price – on the NYSE-AmEx.
Network 1 Financial Securities served as the sole book-runner.
Phaos Technology Cayman (Holdings) Ltd. is a Singapore-based investment company whose main subsidiary makes advanced microscopes that can see up to 137 nanometers. In comparison, traditional microscopes see only up to 250 nm. The company also provides software
“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,” Phaos Technology said in the prospectus.
“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.”
The company is not profitable: It reported a net loss of $1.73 million on revenue of $1.38 million for the year that ended April 30, 2024, according to financial statements in the prospectus.
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