SINGAPORE, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Phaos Technology Holdings (Cayman) Limited, (NYSE:POAS), ("Phaos" or "the Company"), a leader in advanced microscopy solutions headquartered in Singapore, today announced the pricing of its initial public offering of an aggregate 3,600,090 of its class A ordinary shares (the "Offering"), at a public offering price of US$4.00 per share (the "Offering Price"). The Company is offering 2,700,000 class A ordinary shares, for a total of $10,800,000 of gross proceeds, before deducting underwriting discounts and other offering expenses. Certain selling shareholders are offering in aggregate 900,090 class A ordinary shares. The Company will not receive any proceeds from any sale of shares by the selling shareholders. 

The Company has granted the underwriters a 45-day option (the "Over-Allotment Option") to purchase up to an additional 405,000 class A ordinary shares at the Offering Price, less underwriting discounts and commissions, solely to cover over-allotments, if any, representing 15% of the class A ordinary shares sold in the Offering (excluding class A ordinary shares subject to this over-allotment option).

The shares are expected to begin trading on the NYSE American under the ticker symbol "POAS" on November 13, 2025. The Offering is expected to close on November 14, 2025, subject to customary closing conditions.

Network 1 Financial Securities, Inc. ("Network 1") is acting as the sole book-running manager for the Offering. In connection with the Offering, Ortoli Rosenstadt LLP is acting as U.S. securities counsel to Phaos, Ogier is acting as Cayman Islands counsel to Phaos, and Bayfront Law LLC is acting as Singapore counsel to Phaos. Loeb & Loeb LLP is acting as U.S. counsel to Network 1, in connection with the ...