iOThree Ltd — Form F-1
Filed September 11, 2026 · analyzed by the Registration Agent
F-1
— Neutral
significance 28/100
What the filing says
iOThree Limited (IOTR) filed F-1 registration for best-efforts offering of 1,992,032 units at ~$2.51/unit (assumed last price 9/4/2026), each containing 1 ordinary share (or pre-funded warrant) + 1 common warrant. Maxim Group LLC is sole placement agent (7.5% fee). Estimated net proceeds ~$4.4M after fees. This is best-efforts only—no minimum. Pre-offering: 3,032,199 ordinary shares + 1,831,675 Class A shares outstanding. Post-offering (assuming full exercise): 5,024,231 ordinary shares; founder Eng Chye Koh retains ~94.9% voting power.
Why this rating
Best-efforts offering with no minimum; highly dilutive warrants (65.7% of shares), but proceeds modest (~55% of $8.5M asset base). Routine capital raise for micro-cap, not transformational.
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