Core Viewpoint - Ruanyun Edai Technology Inc. successfully completed its initial public offering, raising approximately $15 million by offering 3,750,000 ordinary shares at a price of $4.00 per share, with trading commencing on Nasdaq under the ticker symbol "RYET" [1]. Group 1: Offering Details - The company has granted underwriters a 45-day option to purchase an additional 562,500 ordinary shares to cover over-allotments [2]. - The offering was conducted on a firm commitment basis, with AC Sunshine Securities LLC serving as the sole book-running manager [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for research and development of new products and services, marketing and customer services, new content creation, cash reserves, and working capital, including costs to establish two additional regional offices [3]. Group 3: Company Overview - Ruanyun Edai Technology Inc. is an AI-driven education technology company focused on transforming the K-12 education landscape in China by providing intelligent learning tools and adaptive learning systems [7].
Ruanyun Edai Technology Inc. Announces Closing of Initial Public Offering