Singaporean eVTOL developer Neo Aeronautics (NEOA.US) plans to raise US$11 million for an IPO in the US

The Zhitong Finance App learned that Singaporean eVTOL and conventional aircraft developer Neo Aeronautics (NEOA.US) submitted prospectus documents to the US Securities and Exchange Commission (SEC) last Friday and plans to raise up to 11 million US dollars through an initial public offering (IPO).

The Singapore-based company plans to issue 2.5 million shares at an issue price range of US$4-5 per share, raising US$11 million. Based on the median of the proposed issue price range, Neo Aeronautics would be valued at $125 million.

Neo Aeronautics mainly develops electric and conventional vertical take-off and landing platforms for the US sports and leisure market, logistics solutions and customized aviation applications. Its products include single-seat eVTOL aircraft that weigh less than 254 pounds, unmanned aerial vehicles that can carry up to 220 pounds, and special aircraft with a payload of more than 100 pounds. Its brand line includes the personal aircraft “Crimson” series, the logistics-specific “Pegasus” series, and the “SeaArcher” series for special needs. The company is currently not generating any revenue.

Neo Aeronautics was founded in 2018 and plans to be listed on the US section of the New York Stock Exchange under the stock code “NEOA”. Revere Securities is the sole bookkeeping manager for this offering.