Pheton Holdings Ltd (PTHL), a healthcare solution provider specializing in treatment planning systems for brachytherapy and other related products and services, today announced the pricing of its initial public offering (the “Offering”) of 2,250,000 Class A ordinary shares at a public offering price of $4.00 per Class A ordinary share, for total gross proceeds of $9 million, before deducting underwriting discounts and other related expenses. In addition, Pheton has granted the underwriters a 45-day option to purchase up to an additional 337,500 Class A ordinary shares at the public offering price, less underwriting discounts. The shares are expected to begin trading on the Nasdaq Capital Market on September 5, 2024, under the ticker symbol “PTHL.” The offering is expected to close on September 6, 2024, subject to satisfaction of customary closing conditions.
The Offering is being conducted on a firm commitment basis. CATHAY SECURITIES, INC. is acting as the representative of the underwriters to the Offering, and Dominari Securities LLC is a co-underwriter. Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the Company, and The Crone Law Group P.C. is acting as U.S. counsel to the underwriters.
A registration statement on Form F-1 relating to the Offering, as amended, was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-274944) and was declared effective by the SEC on September 4, 2024. The Offering is being made only by means of a prospectus and a free writing prospectus. Before you invest, you should read the prospectus, the free writing prospectus, and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. Copies of the final prospectus relating to the Offering, when available, may be obtained from CATHAY SECURITIES, INC. by email at mark.zagotti@cathaysecurities.com, by standard mail to CATHAY SECURITIES, INC., 40 Wall Street, Suite 3600, New York, NY10005, or by telephone at +1 (631) 897-2208. In addition, copies of the prospectus and the free writing prospectus relating to the Offering, when available, may be obtained via the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.