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Platinum Analytics Cayman Limited Announces Closing of Its Initial Public Offering and Full Exercise of Over Allotment
Globenewswireยท 2025-09-23 01:00
Company Overview - Platinum Analytics Cayman Limited is a software developer specializing in FX trading software, data analytics, and technology solutions for financial institutions, with a strategic focus on Asia and emerging markets [6][7] - The company was established in 2017 in Singapore and operates through its wholly-owned subsidiary, Platinum Analytics Singapore Pte. Ltd. [6] Initial Public Offering (IPO) Details - The company closed its initial public offering of 2,300,000 Class A ordinary shares at a public offering price of $4.00 per share, resulting in gross proceeds of $9,200,000 [1] - The offering included the underwriters' full exercise of their over-allotment option and commenced trading on the Nasdaq Capital Market under the ticker symbol "PLTS" on September 19, 2025 [1][2] Use of Proceeds - The company plans to allocate approximately $3.3 million (40% of net proceeds) for research and development, $2.4 million (30%) for expanding its marketing and sales team, and $2.4 million (30%) for IT facilities and financial licenses [3] Regulatory Filings - A registration statement on Form F-1 was filed with the U.S. Securities and Exchange Commission (SEC) and was declared effective on September 18, 2025 [4]