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OrangeKloud Technology Inc. (Nasdaq: ORKT) has announced a collaboration with AI Singapore (AISG) under the 100 Experiments programme to enhance its eMOBIQ® No-Code platform. The project aims to create AI agents that automate app development, eliminating the need for code syntax or manual drag-and-drop processes. This advancement will enable non-programmers to build enterprise applications rapidly using natural language, potentially reducing development time from weeks to hours.
The collaboration seeks to combine large language model (LLM) knowledge with enterprise domain expertise, positioning OrangeKloud at the forefront of Singapore's AI capabilities. CEO Alex Goh emphasized the potential for significant commercial value and benefits to Singapore's digital economy.
Orangekloud Technology (Nasdaq: ORKT) has signed a Memorandum of Understanding (MOU) with the Electronics Industries Training Centre (ELITC) in Singapore to enhance workforce skills and drive digital transformation. The partnership will integrate Orangekloud's eMOBIQ No-Code platform training into ELITC's curriculum, equipping trainees with skills to develop mobile applications for the digital workplace.
This collaboration aims to support Singapore's national digitalization efforts by providing the workforce with essential digital skills. Additionally, Orangekloud will leverage ELITC's network of Small and Medium Enterprises (SMEs) to introduce its eMOBIQ mobile applications, enabling these businesses to develop solutions for optimizing operations in areas such as warehousing and sales.
OrangeKloud Technology Inc. (ORKT) has successfully closed its initial public offering (IPO) of 2,750,000 Class A Ordinary Shares at $4.75 per share, raising approximately $13.1 million in gross proceeds. The shares began trading on the NASDAQ Capital Market on July 25, 2024, under the symbol 'ORKT'. The company has granted underwriters a 45-day option to purchase up to an additional 412,500 shares, potentially increasing gross proceeds to $15.0 million if fully exercised.
Maxim Group, served as the sole Book-Running manager for the offering. The IPO was conducted pursuant to the company's Registration Statement on Form F-1, which was declared effective by the SEC on July 24, 2024. Investors are advised to read the prospectus and other SEC filings for detailed information about the company and the offering.
OrangeKloud Technology announced the pricing of its initial public offering (IPO) at $4.75 per share, totaling $13.1 million. The offering includes 2,750,000 shares of Class A Ordinary Shares, with an additional 45-day option for Maxim to purchase up to 412,500 more shares at the same price. Trading will commence on the Nasdaq Capital Market under the ticker ORKT on July 25, 2024. The IPO is expected to close on July 26, 2024, pending customary conditions. Maxim Group is the sole book-running manager for the offering. Legal counsel includes Loeb & Loeb LLP in the U.S., Bird & Bird ATMD LLP in Singapore, and Harney Westwood & Riegels in the Cayman Islands, with Pryor Cashman LLP supporting Maxim.
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