POAS News & Events

Phaos Technlgy Hldngs (Cayman) Limited trading halted, volatility trading pause

Phaos Technology announced that the company had become aware of unusual trading activity in its common stock on the New York Stock Exchange American on February 5. The company is issuing this press release pursuant to Section 401(d) of the NYSE Company Guide. The company has made inquiries and has been unable to determine whether corrective actions are appropriate at this time. The company is further announcing that there has been no material development in its business and affairs not previously disclosed or, to its knowledge, any other reason to account for the unusual market action.

Phaos Technology priced 3.6M shares at $4.00. The deal range was $4.00-$5.00. Network 1 Financial acted as sole book running manager for the offering. Phaos, which is headquartered in Singapore, offers microscopy products and software solutions for sectors including manufacturing, biomedical, and research.