NETCLASS TECHNOLOGY INC. Announces Pricing of Initial Public Offering

Quick Summary:

SHANGHAI and HONG KONG, Dec.13, 2024 (GLOBE NEWSWIRE) -- NETCLASS TECHNOLOGY INC.(the "Company" or "NETCLASS"), a leading B2B smart education IT solutions provider with offices in Shanghai, Hong Kong, and Singapore, today announced the pricing of its initial public offering (the "Offering") of 1,800,000 Class A ordinary shares at a public offering price of $5.00 per ordinary share, for total gross proceeds of $9,000,000, before deducting underwriting discounts, commissions, and other related expenses.

The Company has granted the underwriters a 45-day option to purchase up to an additional 270,000 Class A ordinary shares at the initial public offering price, less underwriting discounts to cover over-allotments, if any.

The Company intends to use the proceeds from the Offering for the courseware and online technology platform development, expansion of application development service and subscription services, marketing and brand building, along with working capital and general corporate purposes.

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Article Details

Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United StatesHong KongSingapore

Topics: News IPOs NTCL Press Releases

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-13 @ 15:24:00 (5 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 752 words

Reading Time: 5 minutes read

Sentences: 23 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 24538855

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