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The funds raised from the offering are intended for research and development of products and technology, as well as intellectual property strategy and implementation, among other purposes. This move follows an announcement made two months ago where Simpple said it would offer 1.63 million ordinary shares at an estimated price of $5 to $6 each.
Earlier this year on June 6, Simpple had filed for an IPO to list the same number of shares on the Nasdaq Capital Market under the symbol NASDAQ:SPPL, with a proposed price range of $4 to $5 per share. This latest adjustment in share count and pricing indicates a slight shift in Simpple’s strategy as it prepares to go public.
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