Optimal AI, a Singaporean provider of modeling and simulation software for enterprises, filed on Tuesday with the SEC to raise up to $11 million in an initial public offering.
The company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Optimal AI would command a market cap of $109 million and an enterprise value of $100 million (116.8x LTM sales).
Optimal AI, though its subsidiary Hiverlab, delivers integrated enterprise AI solutions in industries such as healthcare, manufacturing, logistics, and financial services. Its offerings include SpatialWork for spatial digital twins, CloudExpo for web-based VR360 experiences, and bespoke spatial XR solutions for clients in Singapore (78% of FY24 revenue), Saudi Arabia (19%), Vietnam (3%), and other countries.
Primary shareholders include founder, CEO, and Chairman Kee Chwee Lai (37% post-IPO stake) and CTO and Director Shutao Jiang (22%).
The Singapore-based company was founded in 2014 and booked $1 million in revenue for the 12 months ended June 30, 2025. It plans to list on the NYSE American but has not yet selected a ticker (RC ticker: OPAI.RC). R.F. Lafferty & Co. is the sole bookrunner on the deal.
