A New Microscope Tech Company Aims High with Upcoming IPO

A company named Phaos Technology (Cayman) Holdings Ltd. is gearing up for its initial public offering (IPO) around August 25th. They aim to raise $12. 15 million by selling 2. 7 million shares at $4. 00 to $5. 00 each. This firm specializes in advanced microscopy technology, offering tools that can see beyond the usual limits of traditional microscopes. Phaos Technology focuses on creating high-tech microscopes that can magnify objects down to 137nm, which is a big deal in the industry. Traditional microscopes usually top out at 250nm. Their products are used in various fields like manufacturing, research, healthcare, and electronics. The company also provides software with AI features to help with tasks like quality control and diagnostics. Despite its innovative tech, Phaos Technology is not yet profitable. In the last year, they made $1. 39 million in revenue but had a net loss of $1. 73 million. The company has a market value of $59. 86 million and plans to expand its reach in Southeast Asia. They currently operate from Singapore and have 24 employees. The IPO is being managed by Network 1 Financial Securities. Interestingly, some existing shareholders are also selling shares, but the company won't get any money from those sales. Phaos Technology was founded in 2017, and you can find more about them on their website.