{"success":true,"data":{"pressRelease":{"id":"158437","rtpr_id":"nGNX3zXX73-20261001","ticker":"POAS","exchange":"NYSE American","all_tickers":["POAS"],"title":"Phaos Technology Holdings (Cayman) Limited Announces Entry Into Securities Purchase Agreement for an Equity Facility of Up to US$10 Million","author":"Globe Newswire","published_at":"2026-10-01T14:04:25.087Z","article_body":"SINGAPORE, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Phaos Technology Holdings\n(Cayman) Limited, (NYSE American: POAS), (“Phaos” or “the Company”),\nan advanced microscopy technology company headquartered in Singapore, today\nannounced that it has entered into a securities purchase agreement (the\n“Purchase Agreement”), dated as of September 28, 2026, with High West\nPartners LLC, a California limited liability company (the “Investor”).\nUnder the Purchase Agreement, the Company has the right, but not the\nobligation, to sell to the Investor from time to time up to US$10,000,000 of\nits Class A ordinary shares, at prevailing market prices and subject to the\nterms, conditions and limitations set out in the Purchase Agreement and the\napplicable NYSE listing rules. The Company’s right to sell Ordinary Shares\nto the Investor begins on the date on which the conditions to the Company’s\nright to sell, and the Investor’s obligation to purchase, Ordinary Shares\nunder the Purchase Agreement are satisfied (the “Commencement Date”), and\nexpires on the 36-month anniversary of the Commencement Date. The Company has\nalso agreed to issue a number of Class A ordinary shares to the Investor as a\ncommitment fee, which will be fully earned as of the Commencement Date and\nissued upon the delivery of the first purchase notice.\n\nAbout Phaos Technology Holdings (Cayman) Limited\nPhaos Technology Holdings (Cayman) Limited is an advanced microscopy\ntechnology company. Our commitment to innovation and excellence drives us to\ndeliver state-of-the-art microscopy products and software solutions, powered\nby artificial intelligence, for diverse sectors including manufacturing,\nbiomedical, and research. Experience the difference with Phaos Technology –\nwhere innovation meets sophistication, shaping the future of optical\ntechnology. For more information, please visit www.phaostech.com.\n\nForward Looking Statements\nThis news release contains “forward-looking statements” within the meaning\nof the “safe harbor” provisions of the U.S. Private Securities Litigation\nReform Act of 1995. Forward-looking statements may be identified by the use of\nwords such as “anticipate”, “believe”, “expect”, “estimate”,\n“plan”, “outlook”, and “project” and other similar expressions\nthat indicate future events or trends or are not statements of historical\nmatters. These statements are based on our management’s current expectations\nand beliefs, as well as a number of assumptions concerning future events.\nSuch forward-looking statements are subject to known and unknown risks,\nuncertainties, assumptions and other important factors, many of which are\noutside of our control and all of which could cause actual results to differ\nmaterially from the results discussed in the forward-looking statements.\nAccordingly, forward-looking statements should not be relied upon as\nrepresenting our views as of any subsequent date, and we do not undertake any\nobligation to update forward-looking statements to reflect events or\ncircumstances after the date they were made, whether as a result of new\ninformation, future events or otherwise, except as may be required under\napplicable securities laws. Factors that could cause actual results to differ\nmaterially from those expressed or implied in forward-looking statements can\nbe found in our reports filed with the United States Securities and Exchange\nCommission, which are available, free of charge, on the SEC’s website at\nwww.sec.gov.\n\nFor more information please contact:\n\nCompany Contact:\nPhaos Technology Holdings (Cayman) Limited\n(65) 6250 3877\nir@phaostech.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f0be845e-2f30-4077-9240-ecb79383ee2a)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3zXX73-20261001","title":"Phaos Technology Holdings (Cayman) Limited Announces Entry Into Securities Purchase Agreement for an Equity Facility of Up to US$10 Million","author":"Globe Newswire","ticker":"POAS","created":"2026-10-01T14:04:25.087Z","tickers":["POAS"],"exchange":"NYSE American","article_body":"SINGAPORE, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Phaos Technology Holdings\n(Cayman) Limited, (NYSE American: POAS), (“Phaos” or “the Company”),\nan advanced microscopy technology company headquartered in Singapore, today\nannounced that it has entered into a securities purchase agreement (the\n“Purchase Agreement”), dated as of September 28, 2026, with High West\nPartners LLC, a California limited liability company (the “Investor”).\nUnder the Purchase Agreement, the Company has the right, but not the\nobligation, to sell to the Investor from time to time up to US$10,000,000 of\nits Class A ordinary shares, at prevailing market prices and subject to the\nterms, conditions and limitations set out in the Purchase Agreement and the\napplicable NYSE listing rules. The Company’s right to sell Ordinary Shares\nto the Investor begins on the date on which the conditions to the Company’s\nright to sell, and the Investor’s obligation to purchase, Ordinary Shares\nunder the Purchase Agreement are satisfied (the “Commencement Date”), and\nexpires on the 36-month anniversary of the Commencement Date. The Company has\nalso agreed to issue a number of Class A ordinary shares to the Investor as a\ncommitment fee, which will be fully earned as of the Commencement Date and\nissued upon the delivery of the first purchase notice.\n\nAbout Phaos Technology Holdings (Cayman) Limited\nPhaos Technology Holdings (Cayman) Limited is an advanced microscopy\ntechnology company. Our commitment to innovation and excellence drives us to\ndeliver state-of-the-art microscopy products and software solutions, powered\nby artificial intelligence, for diverse sectors including manufacturing,\nbiomedical, and research. Experience the difference with Phaos Technology –\nwhere innovation meets sophistication, shaping the future of optical\ntechnology. For more information, please visit www.phaostech.com.\n\nForward Looking Statements\nThis news release contains “forward-looking statements” within the meaning\nof the “safe harbor” provisions of the U.S. Private Securities Litigation\nReform Act of 1995. Forward-looking statements may be identified by the use of\nwords such as “anticipate”, “believe”, “expect”, “estimate”,\n“plan”, “outlook”, and “project” and other similar expressions\nthat indicate future events or trends or are not statements of historical\nmatters. These statements are based on our management’s current expectations\nand beliefs, as well as a number of assumptions concerning future events.\nSuch forward-looking statements are subject to known and unknown risks,\nuncertainties, assumptions and other important factors, many of which are\noutside of our control and all of which could cause actual results to differ\nmaterially from the results discussed in the forward-looking statements.\nAccordingly, forward-looking statements should not be relied upon as\nrepresenting our views as of any subsequent date, and we do not undertake any\nobligation to update forward-looking statements to reflect events or\ncircumstances after the date they were made, whether as a result of new\ninformation, future events or otherwise, except as may be required under\napplicable securities laws. Factors that could cause actual results to differ\nmaterially from those expressed or implied in forward-looking statements can\nbe found in our reports filed with the United States Securities and Exchange\nCommission, which are available, free of charge, on the SEC’s website at\nwww.sec.gov.\n\nFor more information please contact:\n\nCompany Contact:\nPhaos Technology Holdings (Cayman) Limited\n(65) 6250 3877\nir@phaostech.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f0be845e-2f30-4077-9240-ecb79383ee2a)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-01T14:04:25.135044637Z","server_sent_at_ms":1790863465135},"received_at":"2026-10-01T14:04:25.186Z","source_url":null},"analysis":{"id":"147064","press_release_id":"158437","analysis_json":{"industry":{"label":"Electronic Equipment, Instruments & Components","sector":"Information Technology"},"redFlags":["standby equity facility creates ongoing dilution overhang at prevailing market prices","commitment shares issued to investor (count not disclosed)","access to equity capital via market-priced facility may signal limited financing alternatives"],"eventType":"dilution","narrative":"Phaos Technology (NYSE American: POAS) entered a securities purchase agreement dated September 28, 2026 with High West Partners LLC for an equity facility of up to US$10 million.\n\nThe company may, at its option, sell Class A ordinary shares to the investor at prevailing market prices over 36 months from the Commencement Date.\n\nA commitment fee payable in shares will be fully earned at the Commencement Date; the arrangement creates a potential dilution overhang for this small-cap microscopy company.","sentiment":"bearish","agentHooks":{"shouldPost":false,"suggestedAngle":"Micro-cap optics company secures optional $10M equity facility with High West Partners -- watch for dilution once drawdowns begin."},"keyFigures":{"dealValueUsd":10000000,"customDimensions":{"term_months":36,"facility_type":"equity facility (put option), sales at prevailing market prices"}},"quotedText":"","namedEntities":{"people":[],"products":[],"companies":[{"name":"Phaos Technology Holdings (Cayman) Limited","ticker":"POAS","relationship":"filer"},{"name":"High West Partners LLC","relationship":"investor"}],"dollarAmounts":[{"amount":"US$10,000,000","context":"maximum size of equity facility"}]},"materialImpact":{"score":2,"reasoning":"An equity facility of up to $10M with sales at prevailing market prices is a standing dilution overhang for a small-cap, but it is optional (right, not obligation) and no discount, size-vs-cap, or commitment share count is disclosed, limiting near-term materiality."},"tickerRelevance":{"others":[],"primary":"POAS"},"globalImportance":20,"audienceRelevance":12,"eventTypeSecondary":["offering"],"importanceComponents":{"tickerTier":"small/micro-cap","dilutionRisk":"present but contingent; commitment share count undisclosed","eventGravity":"equity facility (optional drawdown, up to $10M)","issuerAuthored":true}},"event_type":"dilution","event_type_secondary":["offering"],"sentiment":"bearish","material_impact_score":2,"narrative":"Phaos Technology (NYSE American: POAS) entered a securities purchase agreement dated September 28, 2026 with High West Partners LLC for an equity facility of up to US$10 million.\n\nThe company may, at its option, sell Class A ordinary shares to the investor at prevailing market prices over 36 months from the Commencement Date.\n\nA commitment fee payable in shares will be fully earned at the Commencement Date; the arrangement creates a potential dilution overhang for this small-cap microscopy company.","key_figures":{"dealValueUsd":10000000,"customDimensions":{"term_months":36,"facility_type":"equity facility (put option), sales at prevailing market prices"}},"named_entities":{"people":[],"products":[],"companies":[{"name":"Phaos Technology Holdings (Cayman) Limited","ticker":"POAS","relationship":"filer"},{"name":"High West Partners LLC","relationship":"investor"}],"dollarAmounts":[{"amount":"US$10,000,000","context":"maximum size of equity facility"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-01T14:04:30.472Z","global_importance":20,"audience_relevance":12,"importance_components":{"tickerTier":"small/micro-cap","dilutionRisk":"present but contingent; commitment share count undisclosed","eventGravity":"equity facility (optional drawdown, up to $10M)","issuerAuthored":true}},"durationMs":5273,"modelName":"glm-5.3-flashx"}}