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News  ›  Benzinga

Phaos Technology Announces Closing of Initial Public Offering

Benzinga Logo Benzinga By Globe Newswire
Phaos Technology Announces Closing of Initial Public Offering

Phaos Technology Holdings completed its initial public offering, raising $10.8 million by selling 2.7 million class A ordinary shares at $4.00 per share on the NYSE American under the ticker POAS.

Insights
SOUNW   neutral

The company shows promising technology and growth (217% revenue increase in Q2), but remains unprofitable with negative operating cash flow and high valuation, making it a speculative investment


POAS   positive

Successfully completed IPO, raised significant capital, began trading on NYSE American, demonstrating company's growth and market confidence