The IPO Buzz: China’s Pheton Holdings (PTHL) Prices Downsized IPO at $4.00 – Low End

Pheton Holdings Ltd.( PTHL) trimmed its small IPO to 2.25 million shares at pricing – down from 2.5 million shares in the prospectus – and priced the IPO at $4.00 – the low end of its $4.00-to-$5.00 range – to raise $9 million on Wednesday night, Sept. 4, 2024. Pheton’s stock is expected to start trading today – Thursday, Sept. 5, 2024 – on NASDAQ. Cathay Securities was the sole book-runner. Pheton Holdings, incorporated in the Cayman Islands, is the parent of Beijing Feitian, which is developing cancer treatment software, according to the prospectus. Beijing Feitian is a healthcare solution provider dedicated to the development and commercialization of treatment software used for brachytherapy, a type of radiotherapy used in treating cancer patients by placing radioactive sources inside the patient to kill cancer cells and shrink tumors, the prospectus said. Beijing Feitian’s proprietary TPS product, FTTPS, is designed to promote the efficiency, accuracy and safety of brachytherapy. FTTPS stands for Feitian Treatment Planning Software. FTTPS is an advanced and user-oriented software to plan the treatment of patients with a wide variety of malignant tumors. The software can determine the target volume, prescription dose and dose limitation to protect organs at risk (“OARs”) and produce a dose distribution plan for brachytherapy for cancer patients. Beijing Feitian’s operations include sales of medical auxiliary supplies such as printed 3D molds, seed implant needles, computer workstations and sales of FTTPS-related technical advisories or the provision of consulting services.  The company is not profitable, according to the prospectus. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.