Singaporean modeling software company Optimal AI increases IPO size by 51%, aiming to raise $17 million.

Singapore enterprise modeling and simulation software provider Optimal AI raised the size of its upcoming IPO last Friday. The Singapore company now plans to issue 3.8 million shares of stock (with 34% being secondary shares), at a price range of $4-5 per share, aiming to raise $17 million. The company's previous plan was to issue 2.5 million shares at the same price (all of which are new shares). Based on the revised midpoint of the fundraising size, Optimal AI's fundraising amount will be 51% higher than previously expected. Optimal AI, through its subsidiary Hiverlab, provides integrated enterprise AI solutions for industries such as healthcare, manufacturing, logistics, and financial services. Its products include the SpatialWork spatial digital twin platform, the web-based VR360 experience platform CloudExpo, and customized spatial XR solutions. The company's customers are mainly located in Singapore (78% of revenue in the 2024 fiscal year), Saudi Arabia (19%), Vietnam (3%), and other countries. Optimal AI was founded in 2014 and had achieved revenue of $1 million in the 12 months leading up to June 30, 2025. The company plans to list on the NYSE American, with the official stock code yet to be determined (RC code: OPAI.RC). R.F. Lafferty & Co. is serving as the exclusive bookrunner for this issuance.