Otsaw, a Singapore-based developer of autonomous mobile robots, raised the proposed deal size for its upcoming IPO on Wednesday.
The company now plans to raise $22 million by offering 4.4 million shares at a price range of $4.50 to $5.50. The company had previously filed to offer 4 million shares at the same range. At the midpoint, Otsaw will raise 11% more in proceeds than previously anticipated.
Ostaw specializes in autonomous mobile robots (AMRs) and robotics solutions, with the goal of disrupting, revolutionizing, and redefining the global facilities management industry. The company designs, develops, manufactures, markets, maintains, services, and supports various advanced AI-enabled AMRs, Ultraviolet-C disinfection systems, hospital intralogistics automated guided vehicles, and other robotics solutions, which are empowered by its proprietary core robotics software and outdoor autonomy technology.
Otsaw was founded in 2015 and booked $4 million in revenue for the 12 months ended October 31, 2024. It plans to list on the Nasdaq under the symbol OTSA. Aegis Capital Corp. is the sole bookrunner on the deal.
