Otsaw, a Singapore-based developer of autonomous mobile robots, withdrew its plans for an initial public offering on Tuesday. It had first filed in June 2025, and most recently in July 2025 filed to raise $22 million by offering 4.4 million shares at a price range of $4.50 to $5.50.
Primary shareholders include founder and CEO Ming Ling, and private investors Derek Goh, Hui Koh, and Siong Goh.
The Singapore-based company was founded in 2015 and booked $4 million in revenue for the 12 months ended October 31, 2024. It had planned to list on the Nasdaq under the symbol OTSA. Aegis Capital Corp. was set to be the sole bookrunner on the deal.
