SINGAPORE, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Phaos Technology Holdings (Cayman) Limited, (NYSE American: POAS), (“Phaos” or “the Company”), an advanced microscopy technology company headquartered in Singapore, today announced that it has entered into a securities purchase agreement (the “Purchase Agreement”), dated as of September 28, 2026, with High West Partners LLC, a California limited liability company (the “Investor”). Under the Purchase Agreement, the Company has the right, but not the obligation, to sell to the Investor from time to time up to US$10,000,000 of its Class A ordinary shares, at prevailing market prices and subject to the terms, conditions and limitations set out in the Purchase Agreement and the applicable NYSE listing rules. The Company’s right to sell Ordinary Shares to the Investor begins on the date on which the conditions to the Company’s right to sell, and the Investor’s obligation to purchase, Ordinary Shares under the Purchase Agreement are satisfied (the “Commencement Date”), and expires on the 36-month anniversary of the Commencement Date. The Company has also agreed to issue a number of Class A ordinary shares to the Investor as a commitment fee, which will be fully earned as of the Commencement Date and issued upon the delivery of the first purchase notice.
About Phaos Technology Holdings (Cayman) Limited
Phaos Technology Holdings (Cayman) Limited is an advanced microscopy technology company. Our commitment to innovation and excellence drives us to deliver state-of-the-art microscopy products and software solutions, powered by artificial intelligence, for diverse sectors including manufacturing, biomedical, and research. Experience the difference with Phaos Technology – where innovation meets sophistication, shaping the future of optical technology. For more information, please visit www.phaostech.com.
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the United States Securities and Exchange Commission, which are available, free of charge, on the SEC’s website at www.sec.gov.
For more information please contact:
Company Contact:
Phaos Technology Holdings (Cayman) Limited
(65) 6250 3877
[email protected]