Pheton Holdings Ltd Sets Terms for Upcoming IPO Success
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Pheton Holdings Ltd Pricing for Initial Public Offering
Today, Pheton Holdings Ltd has officially set the offering price for its initial public offering (IPO), marking a significant milestone for the healthcare solution provider known for its innovative treatment planning systems in brachytherapy and related services. The firm plans to issue 2,250,000 Class A ordinary shares at an inviting price of $4.00 per share, aiming for total gross proceeds of approximately $9 million, not accounting for underwriting discounts and additional expenses.
Details of the Offering
In addition to the initial share issuance, Pheton has provided its underwriters with a 45-day option to purchase an extra 337,500 Class A ordinary shares at the same public offering price, less any applicable underwriting discounts. This flexibility may enhance the funds raised through the IPO. Trading in the shares is anticipated to commence soon on the Nasdaq Capital Market under the ticker symbol "PTHL." The expected closing date for the offering is scheduled for the following day, subject to the usual closing conditions.
Underwriters and Legal Representation
The underwriting process is being orchestrated on a firm commitment basis, led by CATHAY SECURITIES, INC. as the representative of the underwriters, with Dominari Securities LLC serving as a co-underwriter. Legal obligations are handled by Hunter Taubman Fischer & Li LLC, providing counsel to Pheton, while The Crone Law Group P.C. represents the underwriters.
Company Overview
Pheton Holdings Ltd operates through its wholly owned subsidiary, Beijing Feitian Zhaoye Technology Co., Ltd., established with the vision of enhancing healthcare solutions specifically targeting brachytherapy—a focused radiation therapy that plays a crucial role in cancer treatment. Pheton's flagship product, the Treatment Planning System, emphasizes the precise utilization of radioactive sources that function directly within the patient's body to eliminate cancer cells and minimize tumor size. This innovative approach is poised to redefine standards of care in multiple tumor scenarios, highlighting the company’s commitment to advancing patient outcomes in oncology.
Investor Information
For interested investors, more detailed insights about the Offering can be accessed through documents filed with the U.S. Securities and Exchange Commission (SEC). Potential investors are encouraged to read thoroughly the available prospectus and related documents as part of their investment decision-making process.
Contact for More Information
For any inquiries or further information regarding the IPO, Pheton Holdings Ltd provides various channels for communication. Investors can reach out through email at ir@ftzy.com.cn.
Frequently Asked Questions
What is Pheton Holdings Ltd known for?
Pheton Holdings Ltd specializes in healthcare solutions, particularly in developing treatment planning systems for brachytherapy in cancer treatment.
How many shares is Pheton offering in its IPO?
The company is offering 2,250,000 Class A ordinary shares in its initial public offering.
What is the expected price range for the shares?
The shares are priced at $4.00 each, aiming for total gross proceeds of $9 million, excluding underwriting fees.
When will trading begin for Pheton's shares?
Trading is expected to start on the Nasdaq Capital Market shortly after the IPO closes.
How can investors learn more about Pheton's IPO?
Investors can review the prospectus and other related SEC filings for comprehensive information about the IPO and the company's operations.
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