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Singapore-based proptech Simpple (SPPL) has downsized its proposed US initial public offering to $7M from $9M.
Simpple said in an SEC filing that it is now looking to offer 1.6M shares priced between $4 and $5, which would raise around $7M if priced at the midpoint.
The company hopes to list its shares on Nasdaq under the symbol SPPL. Maxim Group is serving as lead bookrunner.
Simpple said in its F-1 filing in April that it was interested in raising around $9M by offering 2M shares priced between $4 and $5.
The company, which is incorporated in the Cayman Islands, specializes in facilities automation solutions such as workflow management software and robotic cleaning devices.
In March, fellow Singapore proptech Ohmyhome (OMH), which runs a “one-stop-shopping” property platform,” raised $11M through a US IPO.
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