Evvolutions LeadTech, a Singapore-based technology reseller and cybersecurity provider, increased the proposed deal size for its upcoming IPO on Tuesday.
The Singapore-based company now plans to raise $16 million by offering 3.8 million shares (28% secondary) at a price range of $4 to $4.50. The company had previously filed to offer 2.5 million shares at a range of $4 to $5. At the midpoint of the revised terms, Evvolutions LeadTech will raise 43% more in proceeds than previously anticipated.
Evvolutions is a cybersecurity provider offering a comprehensive suite of products and services, including threat detection, vulnerability management, compliance advisory, and ransomware negotiation. Operating in Singapore and Vietnam, it served approximately 111 customers in the FY24, with a focus on government agencies, enterprises, and private organizations across Southeast Asia. The company operates four main business segments: Cybersecurity Solutions, DevSecOps Integration Services, Security Operations Centre (SOC) Management Services, and Secured Media and Information Technology Management Solutions (ITMS). In addition to its proprietary platforms and services, Evvolutions also acts as a reseller of IT hardware to support solutions integration.
Evvolutions LeadTech was founded in 2011 and plans to list on the NYSE American under the symbol EVVO. Network 1 Financial Securities is the sole bookrunner on the deal.
