Singapore eVTOL developer Neo Aeronautics (NEOA.US) plans to conduct an IPO in the United States with a target fundraising amount of $11 million.

Singaporean eVTOL and conventional aircraft developer Neo Aeronautics (NEOA.US) submitted its IPO filing to the U.S. Securities and Exchange Commission (SEC) last Friday, with plans to raise up to $11 million through an initial public offering (IPO). The Singapore-based company intends to issue 2.5 million shares at an offering price of $4-5 per share, raising a total of $11 million. Based on the proposed offering price range, Neo Aeronautics' valuation will reach $125 million. Neo Aeronautics primarily develops electric and conventional vertical take-off and landing platforms for the U.S. sports and leisure market, logistics solutions, and customized aviation applications. Its products include single-seat eVTOL aircraft weighing less than 254 pounds, unmanned drones capable of carrying up to 220 pounds, and special aircraft with payloads exceeding 100 pounds. The brand lineup includes the personal aircraft "Crimson" series, the logistics-specific "Pegasus" series, and the specialized "SeaArcher" series. The company has not generated any revenue so far. Founded in 2018, Neo Aeronautics plans to list on the U.S. panel of the New York Stock Exchange under the ticker symbol "NEOA." Revere Securities is the exclusive book-running manager for this offering.