Phaos Technology (Cayman) Holdings Ltd., an advanced microscopy solutions provider, is preparing to go public on the NYSE-American under the ticker symbol POAS. The company has filed to raise approximately $12.2 million through an initial public offering (IPO), offering 2.7 million shares at a price range of $4.00 to $5.00 per share. In addition, selling stockholders plan to offer 900,090 shares, though Phaos will not receive proceeds from those sales.
Innovative Microscopy Technology
Founded in 2017 and headquartered in Singapore, Phaos Technology specializes in super-resolution optical microscopy solutions. Its patented microsphere-assisted technology enables magnification beyond the traditional 200nm optical limit, achieving imaging capabilities down to 137nm. This positions Phaos as the only commercially available provider of advanced optical microscopes that can operate below 200nm within a commercially viable working distance.
The company’s product portfolio includes:
- Super-resolution imagers with 137nm precision.
- Specialized microscopes for diverse industrial applications.
- 3D real-time image magnifiers for enhanced visualization.
Complementing its hardware, Phaos offers in-house AI-powered software designed for pattern recognition in research, quality assurance, diagnostics, and industrial QA/QC applications.
Market Potential and Revenue
Phaos serves a wide range of industries including semiconductors, biomedical research, electronics, manufacturing, healthcare, and precision engineering. For the fiscal year ended April 30, 2024, microscopy products accounted for 97.6% of revenue, up from 73.9% the previous year. The company reported revenues of $1.39 million but a net loss of $1.73 million over the last 12 months, highlighting its early-stage growth trajectory.
Expansion Strategy
Phaos is focused on strengthening its presence in Singapore while expanding into Southeast and South Asia, leveraging the growing demand for high-precision imaging tools in research and manufacturing.
IPO Outlook
The IPO is managed by Network 1 Financial Securities, with trading expected to begin on August 25, 2025. With a post-IPO market capitalization projected at $59.86 million, Phaos Technology aims to capitalize on its niche position in the industrial instruments sector, targeting long-term growth through innovation in microscopy solutions.
