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September 11, 2023

Singapore-based proptech Simpple (SPPL) has filed for a $9M US initial public offering.

Simpple said in a filing that it is looking to offer 2M shares priced between $4 and $5, which would raise around $9M if priced at the midpoint.

The company hopes to list its shares on Nasdaq under the symbol SPPL. Maxim Group is serving as lead bookrunner.

Based in Singapore but incorporated in the Cayman Islands, Simpple helps building managers and owners operate their building autonomously through technology solutions such as robotic cleaning.

The company has been operating in the red. For the six-month period ended June 30, 2022, Simpple reported a net loss of $466K on revenue of $1.9M. It added that its auditors have expressed doubt about its ability to continue as a going concern, according to its filing.

Last month, fellow Singapore proptech Ohmyhome (OMH), which runs a “one-stop-shopping” property platform,” raised $11M through a downsized US IPO