Optimal AI, a Singaporean provider of modeling and simulation software for enterprises, raised the proposed deal size for its upcoming IPO on Friday.
The Singapore-based company now plans to raise $17 million by offering 3.8 million shares (34% secondary) at a price range of $4 to $5. The company had previously filed to offer 2.5 million shares (100% primary) at the same range. At the midpoint of the revised deal size, Optimal AI will raise 51% more in proceeds than previously anticipated.
Optimal AI, though its subsidiary Hiverlab, delivers integrated enterprise AI solutions in industries such as healthcare, manufacturing, logistics, and financial services. Its offering 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.
Optimal AI 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.
