Singapore-based energy company T20 Holdings (TWEN) has filed for a $20M US initial public offering.
In its filing , T20 said that it intends to offer units with each consisting of one share and one warrant to buy one share, but did not specify the number and pricing. The company indicated in its filing fee schedule , however, that it was seeking to raise up to $20M through the unit sale and another $41M through the exercise of certain warrants.
The company hopes to list its shares on Nasdaq under the symbol TWEN. EF Hutton is serving as lead bookrunner.
Based in Singapore, T20 designs and builds power generation solutions. Most of its operations have been focused on providing energy services in Papua New Guinea. For 2021, the company reported a net income of $2.9M on revenue of $9.3M.
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Singapore energy services provider T20 Holdings files for $20M US IPO