Damon Inc. Files for IPO
Ticker: DMNIF · Form: S-1 · Filed: Jan 16, 2025 · CIK: 2000640
Sentiment: neutral
Topics: ipo, registration-statement, tech
TL;DR
Damon Inc. (formerly Grafiti Holding) just filed for IPO, get ready for some new tech stock!
AI Summary
Damon Inc. filed an S-1 registration statement with the SEC on January 16, 2025, indicating plans for an initial public offering. The company, formerly known as Grafiti Holding Inc. until November 9, 2023, is based in Vancouver, British Columbia, and operates in computer programming services. The filing does not disclose specific dollar amounts or share prices for the offering at this stage.
Why It Matters
This S-1 filing signals Damon Inc.'s intention to become a publicly traded company, which could lead to increased investment and scrutiny in the computer programming services sector.
Risk Assessment
Risk Level: medium — As an S-1 filing, it represents a company seeking to go public, which inherently carries risks associated with market reception and operational execution.
Key Numbers
- 92 — Public Document Count (Indicates the volume of documents associated with this filing.)
Key Players & Entities
- Damon Inc. (company) — Registrant
- Grafiti Holding Inc. (company) — Former company name
- January 16, 2025 (date) — Filing date
- November 9, 2023 (date) — Date of name change
- Dominique Kwong (person) — Interim Chief Executive Officer
- 704 Alexander Street, Vancouver, British Columbia V6A 1E3 (address) — Principal executive offices
- 333-284324 (filing_number) — SEC File Number
FAQ
What is the proposed use of proceeds from the IPO?
The S-1 filing does not specify the proposed use of proceeds at this stage.
What is the total number of shares Damon Inc. intends to offer?
The S-1 filing does not disclose the number of shares to be offered.
What is the expected price range for the IPO shares?
The S-1 filing does not provide an expected price range for the IPO shares.
When did Damon Inc. change its name from Grafiti Holding Inc.?
Damon Inc. changed its name from Grafiti Holding Inc. on November 9, 2023.
What industry does Damon Inc. operate in?
Damon Inc. operates in the Services-Computer Programming Services sector, with SIC code 7371.
Filing Stats: 4,525 words · 18 min read · ~15 pages · Grade level 19.3 · Accepted 2025-01-16 17:29:10
Key Financial Figures
- $10 million — the aggregate purchase amount of up to $10 million. Upon the terms and subject to the cond
- $0.72 — common shares as reported by Nasdaq was $0.72 per share. Investing in our common sha
Filing Documents
- ea0227591-s1_damon.htm (S-1) — 3803KB
- ea022759101ex5-1_damon.htm (EX-5.1) — 17KB
- ea022759101ex23-1_damon.htm (EX-23.1) — 3KB
- ea022759101ex23-2_damon.htm (EX-23.2) — 3KB
- ea022759101ex23-3_damon.htm (EX-23.3) — 5KB
- ea022759101ex-fee_damon.htm (EX-FILING FEES) — 13KB
- image_001.jpg (GRAPHIC) — 3KB
- image_002.jpg (GRAPHIC) — 19KB
- image_003.jpg (GRAPHIC) — 212KB
- fin_001.jpg (GRAPHIC) — 2KB
- ex5-1_001.jpg (GRAPHIC) — 13KB
- ex23-3_001.jpg (GRAPHIC) — 2KB
- 0001213900-25-004277.txt ( ) — 10167KB
- dmn-20240930.xsd (EX-101.SCH) — 57KB
- dmn-20240930_cal.xml (EX-101.CAL) — 47KB
- dmn-20240930_def.xml (EX-101.DEF) — 313KB
- dmn-20240930_lab.xml (EX-101.LAB) — 503KB
- dmn-20240930_pre.xml (EX-101.PRE) — 329KB
- ea0227591-s1_damon_htm.xml (XML) — 773KB
USE OF PROCEEDS
USE OF PROCEEDS 48 DETERMINATION OF OFFERING PRICE 48 DIVIDEND POLICY 48 MARKET INFORMATION 48 Unaudited Pro Forma Condensed Combined Financial Information 49 Management's Discussion and Analysis of Financial Condition and Results of Operations of DAMON (FORMERLY, GRAFITI HOLDING) 62 Management's Discussion and Analysis of Financial Condition and Results of Operations of DAMON MOTORS 80
BUSINESS
BUSINESS 101 Management 117 Executive and Director Compensation 123 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 135 PRINCIPAL SHAREHOLDERS 138 Selling Securityholders 139 Description of Capital Stock 141 SECURITIES ACT RESTRICTIONS ON RESALE OF COMMON STOCK 144 PLAN OF DISTRIBUTION 145 LEGAL MATTERS 148 EXPERTS 148 Where You Can Find More Information 148 INDEX TO CONSOLIDATED
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS F-1 i ABOUT THIS PROSPECTUS You should rely only on the information contained in this prospectus or in any applicable prospectus supplement prepared by us or on our behalf. Neither we nor the Selling Securityholders have authorized anyone to provide any information or to make any representations other than those contained in this prospectus, any accompanying prospectus supplement or any free writing prospectus we have prepared. We and the Selling Securityholders take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities offered hereby and only under circumstances and in jurisdictions where it is lawful to do so. No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus, any applicable prospectus supplement or any related free writing prospectus. This prospectus is not an offer to sell securities, and it is not soliciting an offer to buy securities, in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus or any prospectus supplement is accurate only as of the date on the front of those documents only, regardless of the time of delivery of this prospectus or any applicable prospectus supplement, or any sale of a security. Our business, financial condition, results of operations and prospects may have changed since those dates. This prospectus is part of a registration statement on Form S-1 that we filed with the SEC using the "shelf" registration process. Under this shelf registration process, the Selling Securityholders hereunder may, from time to time, sell the securities offered by them described in this prospectus. We will not receive any proceeds from the sale by such Selling Securityholders of the common shares offered by them described in this prospectus. A